Explanation
Background: By a Lease Agreement For Use of Real Property For Agricultural Purposes, dated December 1, 2016, the City currently leases a portion of real property located on Mooney Road, identified as Delaware County Tax Parcel No. 100-300-01-043-000, of approximately 46.36 +/- acres to Lowell Thomas Taylor (“Tenant”) containing 44 acres tillable for farming purposes. The following legislation authorizes the Director of the Department of Finance and Management, on behalf of the Department of Public Utilities, to execute those documents necessary to enter into a First Amendment to Agreement for Lease of Real Property for Agricultural Purposes ("First Amendment") by and between the City (“Landlord”) and Lowell Thomas Taylor (“Tenant”) to add an adjacent portion of land to the existing lease, comprised of approximately 44.61 acres of the city-owned site located on Smokey Road being Delaware County Tax Parcel No. 100-300-01-092-000 that is currently leased and farmed by Ronald L. Nogle. Mr. Nogle elected not to exercise the option to renew his farm lease for the term that is to commence on December 1, 2020. Lowell Thomas Taylor has agreed to lease and farm this acreage. The Real Estate Management Office has negotiated a First Amendment with terms agreeable to the Department of Public Utilities for the lease of this additional 44.61 +/- acres. The First Amendment will confirm the renewal of Lowell Thomas Taylor's lease of 46.36 +/- acres on Delaware County Tax Parcel No. 100-300-01-043-000, establish the rent rate for the renewal term and add 44.61 +/-acres on Delaware County Tax Parcel No. 100-300-01-092-000 to the lease for the renewal term commencing on December 1, 2020 and expiring on November 30, 2024.
Fiscal Impact: No funds are required.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to enter into a First Amendment to Agreement for Lease of Real Property for Agricultural Pur...
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