File #: 23-071    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/19/2023 In control: Public Works Committee
On agenda: Final action: 3/13/2023
Title: AUTHORIZING A LEASE AGREEMENT WITH PRIME MANAGEMENT, LLC AND BERKSHIRE BANK REGARDING CORPORATE SUITE NO. 3 AT THE MVP ARENA
Sponsors: Public Works Committee
Attachments: 1. GM Letter Prime Management and Berkshire Bank for Suite # 3, 2. 4013 RLA Form, 3. Letter of Intent Prime Management Suite # 3, 4. Letter of Intent Berkshire Bank Suite # 3, 5. Lease Suite # 3 Berkshire Bank and Prime Management, 6. 23-072 PW 7 - TMP - 4021 - Authorizing_Lease_Agreement_P_Schneider_&_Associates_Suite_8_MVP_Arena

RESOLUTION NO. 71

 

AUTHORIZING A LEASE AGREEMENT WITH PRIME MANAGEMENT, LLC AND BERKSHIRE BANK REGARDING CORPORATE SUITE NO. 3 AT THE MVP ARENA

 

Introduced:  3/13/23

By Public Works Committee:

 

WHEREAS, The General Manager of the MVP Arena has indicated that the following two Suite holders have expressed an interest in renewing a lease agreement for Corporate Suite No. 3 at the MVP Arena in accordance with the terms and conditions approved by the County Attorney, and

 

Suite Holder

Address

Prime Management, LLC

Cohoes, NY 12047

Berkshire Bank

Albany, NY 12207

 

, and

 

                     WHEREAS, Annual payments totaling $51,000 are to be made as follows: a $51,000 payment for year one, a $51,000 payment for year two, and a $51,000 payment for year three for a total amount of $153,000, 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. 3 shall be for three years commencing January 1, 2023 and ending December 31, 2026, now, therefore, be it

 

                     RESOLVED, By the Albany County Legislature that the County Executive is authorized to enter into a lease agreement with the aforesaid Suite holders to lease Corporate Suite No. 3 at the MVP Arena pursuant to the aforementioned terms, and, be it further

 

                     RESOLVED, That the County Attorney is authorized to approve said lease agreement 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.