File #: 24-454    Version: 1 Name:
Type: Resolution Status: Passed
File created: 7/1/2024 In control: Public Works Committee
On agenda: Final action: 8/12/2024
Title: AUTHORIZING LEASE AGREEMENTS WITH PROTECTIVE INDUSTRIAL PRODUCTS, INC. AND HOFFMAN CAR WASH ALBANY, LLP REGARDING CORPORATE SUITE NO. 13 AT THE MVP ARENA
Sponsors: Public Works Committee
Attachments: 1. GM Letter Suite 13 Protective Industrial Products and Hoffman Car Wash, 2. RLA Form 5685, 3. Letter of Intent Protective Industrial Products, 4. Letter of Intent Hoffman Car Wash, 5. Deposit Protective Industrial Products, 6. Deposit Hoffman Car Wash, 7. Current Lease Protective Industrial Products and Hoffman Car Wash, 8. Resolution 196 2021, 9. 24-454 PW 4 - TMP 5685 - Protective Industries Products MVP suite
RESOLUTION NO. 454

AUTHORIZING LEASE AGREEMENTS WITH PROTECTIVE INDUSTRIAL PRODUCTS, INC. AND HOFFMAN CAR WASH ALBANY, LLP REGARDING CORPORATE SUITE NO. 13 AT THE MVP ARENA

Introduced: 8/12/24
By Public Works Committee:

WHEREAS, By Resolution No. 156 for 2020, this Honorable Body authorized lease agreements with Protective Industrial Products, Inc and MVP Health Plan, Inc. as suite holders regarding Corporate Suite No. 13 at the Times Union Center for a three-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 MVP Arena for a three-year period commencing on the first of the month that the Times Union Center reopens for events following the COVID-19 pandemic and ending three years thereafter, and

WHEREAS, By Resolution No. 196 for 2021, this Honorable Body authorized a lease agreement with Protective Industrial Products, Inc. and Hoffman Car Wash Albany, LLP as suite holders regarding Corporate Suite No. 13 at the Times Union Center for a three-year period commencing September 1, 2021 and ending on August 31, 2024, and

WHEREAS, The following suite holders have indicated an interest in renewing their lease for Corporate Suite No. 13 at the MVP Arena 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 Albany, LLP
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 MVP 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 th...

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