Resolution 16-118 Pier One Theatre Five-Year Lease Portion of Tract 1-A, Fishing Hole Subdivision No. 2

CITY OF HOMER

HOMER, ALASKA

                                                                                                                               City Manager

RESOLUTION 16-118

A RESOLUTION OF THE HOMER CITY COUNCIL AWARDING PIER ONE THEATRE A FIVE-YEAR LEASE WITH NO OPTIONS FOR RENEWAL, A PORTION OF TRACT 1-A, FISHING HOLE SUB NO. 2, WITH AN ANNUAL BASE RENT OF $1.00, AND AUTHORIZING THE CITY MANAGER TO MOVE FORWARD WITH LEASE NEGOTIATIONS AND EXECUTE THE APPROPRIATE DOCUMENTS.

               WHEREAS, Pier One Theatre has submitted a lease renewal application to the City of Homer for a portion of Tract 1-A for the purpose of continuing operating a non-profit organization that manages summer stock theatre and related activities; and

WHEREAS, The City of Homer recognizes how Pier One Theatre benefits the Homer community and that Pier One Theatre has been operating on the Homer Spit and leasing from the City for over 30 years; and

WHEREAS, The City will continue to seek the highest and best use of all City-owned property; the Lease Advisors agree to a short-term lease since it fulfills the current need of that lot, while also keeping the City’s interests open in case the Port and Harbor Enterprise is able to expand the Homer Marine Repair Facility (which shares the same lot); and

               WHEREAS, The Lease Advisors and the Port and Harbor Advisory Commission reviewed this proposal and endorses issuing a new, five-year term lease with no options to renew, for Tract 1-A for the continued operation of a non-profit theatre organization in Homer, Alaska, on the Homer Spit.

               NOW, THEREFORE, BE IT RESOLVED that the Homer City Council hereby approves that the City of Homer enter into a new, five-year term lease with no options to renew, with Pier One Theatre for a portion of Tract 1-A, Fishing Hole Sub No. 2, with a base rent of $1.00 per year, and authorizing the City Manager to move forward with lease negotiations and execute the appropriate documents.

               PASSED AND ADOPTED by the Homer City Council this 21st day of November, 2016.

CITY OF HOMER

                                                                                                         BRYAN ZAK, MAYOR

ATTEST:

JO JOHNSON, MMC, CITY CLERK

Fiscal Note:  Base lease will be $1.00 annually.