2024-18 Extension of Lease Agreement-Ida Lewis Yacht Club-King Park Floating Dock Storage

RESOLVED: that an extension of the lease agreement between the City of Newport and the Ida Lewis Yacht Club, for a term of five (5) years at an annual rate of no less than Three Thousand Two Hundred and Fifty ($3,250.00) Dollars either through in-kind improvements or by direct payment, for the use of the King Park Boat ramp area for the winter storage of the Club’s floating docks and the annual removal by the Yacht Club of the City’s floating docks is hereby approved in consideration of the Yacht Club’s undertaking to perform maintenance and improvements to the area used for dock storage AND BE IT FURTHER

RESOLVED: and the Mayor is authorized to sign said extension of the lease agreement, upon review by the City Solicitor’s office, on behalf of the City.

IN COUNCIL
READ AND PASSED
FEBRUARY 28, 2024

Laura C. Swistak, CMC
City Clerk

REQUEST FOR CITY COUNCIL ACTION

To: Mayor Xay R. Khamsyvoravong & Members of the City Council
From: Laura L. Sitrin, Interim City Manager
Date: February 13, 2024
Subject: Extension of Lease Agreement-Ida Lewis Yacht Club-King Park Floating Dock Storage
Staff Presentation:

RECOMMENDATION:
It is recommended that Council approve an extension of the lease agreement with the Ida Lewis Yacht Club to store floating docks at King Park in consideration of the Yacht Club’s commitment to provide maintenance and improvements to the area used for dock storage.

BACKGROUND AND FINDINGS:
In 1999, the City of Newport approved a lease of 10 years (with a 5-year extension) for the Ida Lewis Yacht Club to store floating docks at King Park next to the boat ramp, in exchange for paying for work to repair the stone seawall adjacent to the park and the Yacht Club entrance. The work was completed as detailed in that agreement. In 2005, the City Council approved a continuation of the agreement for additional seawall improvements and extended the lease agreement term to April 30, 2014. Subsequently, The City advised that it no longer desired upgrades to the stone seawall. Accordingly, the lease agreement was modified to include maintenance and area improvements where the docks are stored at an annual rate of $2,500 and the term of the lease was extended through June 30, 2024.

The attached renewal lease agreement is recommended for a five-year term to include maintenance and area improvements at an annual rate of $3,250 and may be extended for an additional five-year period under terms agreed to between the parties.

PREVIOUS LEGISLATIVE ACTION
Resolution #1999-91
Resolution #2005-166
Resolution #2014-094

FISCAL IMPACT
___ Currently Budgeted (Account 17800510-045700) ___ Requires additional appropriation ___ No Fiscal Impact

SUPPORTING DOCUMENTS
Resolution
Agreement for Extension of Lease

Finance Dept. Review: 2/2