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 also regular uses the conference room and all other space on the Center's second floor, expanding the total footprint to 2,144 square feet. The term of the current lease, entered into in 2014, has expired. 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). Staff supports this request.
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 has expired and the Downtown Hampton Development Partnership desires to continue to utilize the aforesaid portion of the Hampton Maritime Center on the terms and conditions set forth in the proposed lease attached to and incorporated in this resolution; and
WHEREAS, the Council has determined that the terms and conditions of the lease ...
Click here for full text