Explanation
Background: Since December 1, 2016 the City, on behalf of the Department of Public Utilities, has leased farmland located in Delaware County surrounding the Upground Reservoir to Lowell Thomas Taylor for farming purposes by a Lease Agreement for Use of Real Property for Agricultural Purposes (“Lease”) as authorized by City Council Ordinance 2799-2016. The Lease has been amended by a First Amendment to Agreement For Lease of Real Property for Agricultural Purposes and the current Second Amendment to Agreement for Lease of Real Property for Agricultural Purposes (“2nd Amendment”), effective December 1, 2020 as authorized by City Council Ordinance 2812-2020. Lowell Thomas Taylor has been jointly farming the leased premises for many years with his son Zachary Lincoln Taylor as his partner. Lowell Thomas Taylor notified the City that he is planning to retire and that his son wishes to continue to farming the leased premises as the Tenant. This change in tenancy is acceptable to and supported by the Department of Public Utilities. In order to assign the Lease to Zachary Lincoln Taylor as Tenant and to modify related provisions to reflect this tenancy change, it is necessary for the City to enter into a Third Amendment to Agreement for Lease of Real Property for Agricultural Purposes. This legislation authorizes the Director of Finance and Management to execute those documents necessary to enter into a Third Amendment to Agreement for Lease of Real Property for Agricultural Purposes of that certain Lease Agreement for Use of Real Property for Agricultural Purposes (“Lease”), effective December 1, 2016, as amended by the First Amendment to Agreement for Lease of Real Property for Agricultural Purposes, effective December 1, 2020 and as amended by the Second Amendment to Agreement for Lease of Real Property for Agricultural Purposes effective December 1, 2020, to assign the Lease to Zachary Lincoln Taylor as Tenant and to modify related provisions to refle...
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