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TO: Mayor Thomas J. Weisner
FROM: Joseph Hopp, Superintendent of Maintenance Services
DATE: June 7, 2016
SUBJECT:
Renewal of The Auto Group Lease Amendment #8
PURPOSE:
In response to the shortage of commuter parking for patrons of the Route 59 Commuter Station, the City entered into a lease agreement with The Auto Group, 1 Auto Club Dr. Dearborn, MI 48126 for 132 surplus parking spaces in July of 2004. Their lot is located directly south of the RT 59 Commuter Station at 975 Meridian Lake Dr. and is designated for use by monthly permit holders.
Currently this lot is full due to the reconfiguration of the RT 59 Commuter lot.
BACKGROUND:
This is the 8th amendment to the original lease.
DISCUSSION:
This lease amendment #8 is for a two year term that will expire on August 31, 2018. The annual rental for the lot for the first year beginning September 1, 2016 will remain at the current annual rate of $40,701.72. The second year, beginning September 1, 2017 will increase to an annual rate of $41,922.72 or $3,493.56 per month.
The City of Aurora has the right to terminate this lease with a 30 day notice to The Auto Group.
There is money budgeted in the transit fund 530-4434-437-39-17 for parking facilities rentals.
IMPACT STATEMENT:
There will be no impact to others
RECOMMENDATIONS:
That the City Council adopts the resolution authorizing the execution of the Lease Amendment #8 with The Auto Group.
cc: Alderman O'Connor, Chairman
Alderman Mervine
Alderman Bohman
Alderman Mesiacos, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution Authorizing Renewal of The Auto Group Lease Amendment #8
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home r...
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