Title
Resolution Authorizing the Execution of a Lease Between the City of Hampton and the Downtown Hampton Development Partnership, Inc. for the Lease of Approximately 2,144 Square Feet on the Second Floor of the Building Located at 710 Settler's Landing Road and Known as the “Hampton Maritime Center”
Purpose
PURPOSE/BACKGROUND:
The Downtown Hampton Development Partnership, Inc. ("DHDP") has leased a portion of the Hampton Maritime Center (the "Center") located at 710 Settlers Landing for many years, initially consisting of approximately 800 square feet for its offices, but has expanded over the years to include the conference room and all other space on the Center's second floor, for a total footprint of 2,144 square feet. The term of the current lease, entered into in 2019, expires at midnight on November 30, 2024. DHDP desires to continue to utilize the space under the terms and conditions described in the attached lease, which include a term of five (5) years subject to a right to terminate with notice, and annual rent in the total amount of $12,800.00 (paid in monthly installments of $1,066.66).
City staff recommends approval of the Resolution.
This matter was properly advertised in accordance with Virginia §§ 15.2-1800 and 15.2-2100.
Discussion:
See Purpose/Background above.
Impact:
See Purpose/Background above.
Recommendation:
Rec
Conduct a public hearing and approve the Resolution.
Body
WHEREAS, the City owns the Hampton Maritime Center located at 710 Settlers Landing Road;
WHEREAS, the Downtown Hampton Development Partnership, Inc. has leased the second floor of the Hampton Maritime Center, consisting of approximately 2,144 square feet for it offices and operations pursuant to a lease with the City;
WHEREAS, the term of the current lease will expire at midnight on November 30, 2024 and the Downtown Hampton Development Partnership, Inc. desires to continue to u...
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