RESOLUTION NO. 190
AUTHORIZING LEASE AGREEMENTS WITH BBL CONSTRUCTION SERVICES, LLC, AND MANUFACTURERS AND TRADERS TRUST COMPANY REGARDING CORPORATE SUITE NO. 1 AT THE MVP ARENA
Introduced: 6/13/22
By Public Works Committee:
WHEREAS, The General Manager of the MVP Arena has indicated that the following two proposed Suite holders have expressed an interest in lease agreements for Corporate Suite No. 1 at the MVP Arena in accordance with the terms and conditions approved by the County Attorney,
Suite Holder
Address
BBL Construction Services, LLC
302 Washington Ave., Albany, NY 12212
Manufacturers & Traders Trust Co.
327 Great Oaks Blvd., Albany, NY 12203
, and
WHEREAS, Due to the closure of the MVP Arena caused by the COVID-19 pandemic, a credit has been provided to each of the Suite holders towards the first year amounts owed on the new lease agreements for payments made during the months of April 2020 through April 2021, and
WHEREAS, The total amount of $51,000 shall be made for each of the three years of the lease agreements, and
WHEREAS, BBL Construction Services, LLC will be credited in the amount of $12,375, with annual payments to be made in the amount of $13,125 for year one, $25,500 for year two, and $25,500 for year three for a total amount of $64,125, and
WHEREAS, Manufacturers & Traders Trust will be credited in the amount of $2,125, with annual payments to be made in the amount of $23,375 for year one, $25,500 for year two, and $25,500 for year three for a total amount of $74,375, and
WHEREAS, The Suite holders will also be responsible for sales tax on tickets to sporting events and cable TV monthly charges as well as any catered food they purchase through Aramark at the MVP Arena, and
WHEREAS, The term of said agreements to lease Suite No. 1 shall be for three years commencing September 1, 2022 and ending August 31, 2025, now, therefore, be it
RESOLVED, By the Albany County ...
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