RESOLUTION NO. 153
AUTHORIZING LEASE AGREEMENTS WITH ALL STAR WINE AND SPIRITS AND SHELTER ENTERPRISES, INC. REGARDING CORPORATE SUITE NO. 17 AT THE TIMES UNION CENTER
Introduced: 5/11/2020
By Public Works Committee:
WHEREAS, The following Suite Holders have indicated an interest in renewing their lease of Corporate Suite No. 17 at the Times Union Center in accordance with terms and conditions approved by the County Attorney,
|
Tenant |
Address |
|
All Star Wine and Spirits |
579 Troy Schenectady Rd, Latham, NY 12110 |
|
Shelter Enterprises |
8 Saratoga Street, Cohoes, NY 12047 |
, 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 February 1, 2020 and ending on January 31, 2023, now, therefore be it
RESOLVED, By the Albany County Legislature that the County Executive is authorized to enter into lease agreements with the above-referenced Suite holders regarding the lease of Corporate Suite No. 17 at the Times Union Center pursuant to the aforementioned terms, and, be it further
RESOLVED, That the County Attorney is authorized to approve said lease agreements as to form and content prior to the execution thereof, and, be it further
RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies of this resolution to the appropriate County Officials.