Explanation
Background: On behalf of the Department of Public Utilities, the Real Estate Management Office leases farmland located in Delaware County and surrounding the upground reservoir. The Agreement for Lease of Real Property for Agricultural Purposes effective December 1, 2016 has been amended three times, twice to increase the farm acreage (First and Second Amendments) and once to assign the Lease from Lowell Thomas Taylor to his son Zachary Lincoln Taylor (Third Amendment) as authorized by City Council Ordinance 2772-2021. In January 2022, Zachary Lincoln Taylor passed away leaving the family farming operations to his widow, Stephanie Lynn Taylor. A Fourth Amendment to the Agreement for Lease of Real Property for Agricultural Purposes is necessary to assign the lease agreement to Stephanie Lynn Taylor as Tenant.
This legislation authorizes the Director of Finance and Management, on behalf of the Department of Public Utilities, to execute those documents necessary to assign the existing lease and recognize Stephanie Lynn Taylor as Tenant and enter into a Fourth Amendment to Agreement for Lease of Real Property for Agricultural Purposes of that certain Agreement for Lease of Real Property for Agricultural Purposes, effective December 1, 2016, as amended by the First Amendment to Agreement for Lease of Real Property for Agricultural Purposes, effective December 1, 2020, as further amended by the Second Amendment to Agreement for Lease of Real Property for Agricultural Purposes, effective December 1, 2020, and as further amended by the Third Amendment to Agreement for Lease of Real Property for Agricultural Purposes effective December 1, 2021, All other terms, conditions, and provisions of the Agreement for Lease of Real Property for Agricultural Purposes will remain unchanged and in full force and effect.
Fiscal Impact: None
Emergency Action: This legislation is presented as emergency measure to allow for immediate modification of the Lease to be...
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