Title
Extension to the Occupancy Terms for the Cade Museum Ground Lease Agreement (B)
Explanation
On March 16, 2016 the City of Gainesville and the Cade Museum Foundation, Inc. entered into an Amended and Restated Ground Lease Agreement for a portion of Depot Park upon which to construct a structure for the operation of a museum. The terms of this agreement require the Cade Museum Foundation, Inc. to complete construction and take occupancy of the building by October 1, 2017. The contractor is working towards a temporary occupancy by the middle of September. However, due to additional parking lot lighting and finishing materials in the building, a final certificate of occupancy is likely not available until the middle of October. According to the terms of the Ground Lease, if construction has commenced but will not be complete by October 1, 2017, the Lessee may request an extension of time. The Cade Museum Foundation has requested an amendment to the agreement to extend the occupancy requirement to December 1, 2017.
Fiscal Note
None
Recommendation
The City Manager to the City Commission: Authorize the City Manager to execute an amendment to the Ground Lease Agreement between the City of Gainesville and The Cade Creativity Labs, Inc. to extend the terms of occupancy to December 1, 2017 subject to approval by the City Attorney as to form and legality.