TITLE
The Mayor and City Council shall discuss and possibly take action on approving a Retail Lease with Duke Plaza, LLC for 990 square feet of office space for the Maricopa Domestic Water Improvement District. Discussion and Action.
AGENDA ITEM DESCRIPTION
In 2011, the City of Maricopa and the Maricopa Domestic Water Improvement District ("District") entered into an IGA to facilitate the construction of an additional 115,000 gallons of net water storage capacity in the District's service area. The increased capacity improved fire protection for existing residences and business while providing additional capacity necessary to serve new businesses. As part of the IGA, the City is obligated to lease acceptable administrative office space for the District within the District's boundaries for up to ten (10) years.
In July 2011, the City entered into a five (5) year lease with Maricopa Manor Business Center, LLC for this office space. Although this lease has expired, the District has continued to occupy this space and the City has continued to pay the rent on a month to month basis. The property recently sold to Duke Plaza, LLC, which has requested a new lease agreement for this space.
The proposed lease expires at the end of the term of the IGA, July 31, 2021.
STAFF RECOMMENDATION
Staff recommends that the Mayor and City Council approve the retail leae with Duke Plaza, LLC.