10/25/2022 Resolutions 2022-300R E S O L U T I O N 2022-300
WHEREAS, the Electric Underground Department's main campus is located at 1209
W. North Front Street; and
WHEREAS, a portion of the building's warehouse is located on Union Pacific
Railroad property and has been leased by the City of Grand Island since January 1, 2003; and
and
WHEREAS, the current 20-year term lease agreement expires on December 31, 2022;
WHEREAS, Union Pacific Railroad is offering a new fixed rent lease to start on
January 1, 2023, have a fixed rant of $3,000.00 with an annual escalator of three precent annually,
and not more than once every three years, the City may ask for a re-assessment of the rent fee should
market valuations change.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the lease agreement with Union Paciiic
Railroad for the property adjacent to 1209 W. North Front Street to begin on January 1, 2023 is
hereby approved.
Adopted by the City Council of the City of Grand Island, Nebraska, October 25, 2022.
C6 _
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Rog G. Steele, Mayor
Attest:
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RaNae Edwards, City Clerk
Approved as to Form tt
October 24, 2022 tt ity Attorney