RESOLUTION NO. 196
AUTHORIZING LEASE AGREEMENTS WITH PROTECTIVE INDUSTRIAL PRODUCTS AND HOFFMAN CAR WASH REGARDING CORPORATE SUITE NO. 13 AT THE TIMES UNION CENTER
Introduced: 7/12/21
By Public Works Committee:
WHEREAS, By Resolution No. 156 for 2020, this Honorable Body authorized lease agreements with Protective Industrial Products and MVP Health Plan, Inc. as suite holders regarding Corporate Suite No. 13 at the Times Union Center for a three (3) year period commencing February 14, 2020 and ending February 13, 2023, and
WHEREAS, By Resolution No. 61 for 2021, this Honorable Body authorized a
lease agreement with MVP Health Plan, Inc. as a suite holder regarding Corporate Suite No. 17 at the Time Union Center for a three (3) year period commencing on the 1st of the month that the Times Union Center reopens for events following the COVID emergency through three years thereafter, and
WHEREAS, The following Suite Holders have indicated an interest in leasing Corporate Suite No. 13 at the Times Union Center as 50% partners in accordance with terms and conditions approved by the County Attorney,
Tenant
Address
Protective Industrial Products
968 Albany Shaker Road, Latham, NY 12110
Hoffman Car Wash
16 Kairnes St., Albany, NY 12205
and
WHEREAS, The suite holders have agreed to pay an annual rental fee of $20,500 for said suite, and
WHEREAS, The suite holders have also agreed to pay $30,500 annually for advertising within the Arena, and
WHEREAS, Annual payments totaling $51,000 are to be made as follows: a $20,500 payment on or before July 1st preceding the contract year, and the remaining $30,500 payment is due on or before December 15th during each contract year, and
WHEREAS, The term of said lease shall be for a three (3) year period, commencing on September 1, 2021 and ending on August 31, 2024, now, therefore be it
RESOLVED, By the Albany County Legislature that the County Executive is authorized to enter into lease ...
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