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RESOLUTION AUTHORIZING AN AMENDED AND RESTATED LEASE AGREEMENT WITH CRABBY OL’ BILLS, INC. FOR OPERATION OF ITS FOOD VENDING SERVICE IN CANAL PARK.
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CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to enter into and execute an amended and restated lease agreement, substantially in the form attached as Exhibit 1, with Crabby Ol’ Bills, Inc., d/b/a Crabby Ol’ Bills Canal Park, for use of the real property in Canal Park near the Lighthouse Lot to operate its food vending service for the period May 1, 2019 through October 31, 2022. The amended and restated lease agreement extends the original term by one year. Rent payments shall be deposited to Fund No. 110 -121-1222 - 4627 (General Fund, Public Admin, Facilities Management, Concessions and Commissions).
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes the city to enter into an amended and restated lease agreement with Crabby Ol’ Bills, Inc., d/b/a Crabby Ol’ Bills Canal Park (“Crabby Ol’ Bills”), for use of real property in Canal Park adjacent to the Lighthouse House to operate its food vending service for the period May 1, 2019 through October 31, 2022. The amended and restated lease agreement extends the original term by one year The real estate to be leased is outlined in red on the attached Exhibit A.
For consideration of the lease agreement, Crabby Ol’ Bills will pay to the City an amount equal to ten percent (10%) its gross receipts (as defined in the lease agreement).