File #: 24-1516    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 8/30/2024 In control: City Council
On agenda: 10/15/2024 Final action: 10/22/2024
Title: Ordinance authorizing a three-year lease with Elizondo Tennis Foundation, a Texas non-profit corporation, to lease the Al Kruse Tennis Center and the HEB Tennis Center, with two one-year renewal options, in consideration for a monthly percentage of net revenue to the City of 15% in year one, 20% in year two, and 25% in year three, or minimum monthly rent payments of $2,500.00 in year one, $2,625.00 in year two, and $2,765.25 in year three, whichever is greater. (6 votes required)
Sponsors: Parks and Recreation Department, Finance & Procurement
Attachments: 1. 24-1516 Agenda Al Kruse & HEB Tennis Centers, 2. 241002 Ordinance - Elizondo Tennis Foundation - Al Kruse & HEB Tennis Centers, 3. 24-1516 Evaluation Matrix-Al Kruse & HEB Tennis Centers, 4. 24-1516 Lease Agreement - Al Kruse & HEB Tennis Centers, 5. 24-1516 Presentation Lease Agrmnt HEB & Al Kruse Tennis Cntrs

Title

Ordinance authorizing a three-year lease with Elizondo Tennis Foundation, a Texas non-profit corporation, to lease the Al Kruse Tennis Center and the HEB Tennis Center, with two one-year renewal options, in consideration for a monthly percentage of net revenue to the City of 15% in year one, 20% in year two, and 25% in year three, or minimum monthly rent payments of $2,500.00 in year one, $2,625.00 in year two, and $2,765.25 in year three, whichever is greater. (6 votes required)