TITLE
Recommendation to authorize City Manager to execute the Tenth Amendment to Historical Site Lease No. 24291 with Rancho Los Alamitos Foundation to provide for the annual increase of the management fee to $516,082. (District 3)
DISCUSSION
On October 3, 1995, the City Council authorized a Historic Site Lease (Lease) with the Rancho Los Alamitos Foundation (Foundation) to manage, operate, and interpret the City's historical site known as Rancho Los Alamitos Historic Ranch and Gardens (Rancho). As stated in the Lease, the Foundation is responsible for enhancing the educational value of the site through public and community activities, assemblies, and visits. Maintenance responsibilities include: maintenance of gardens, residential and agricultural structures, interiors and furnishings, fixtures, utilities, carpeting, and equipment.
In consideration of the Foundation's agreement to manage the educational, historical, and community service aspects of the Rancho, the City pays the Foundation an annual management fee. The Lease provides for an annual increase to the management fee based on the Consumer Price Index (CPI). The annual fee, including the CPI increase of 2.56 percent for 2008, is $516,082. A Lease amendment is required to reflect the increase. All other terms and conditions of the Lease will remain in effect.
This matter was reviewed by Deputy City Attorney Gary J. Anderson on October 8, 2007, and Budget Management Officer Victoria Bell on October 11, 2007.
TIMING CONSIDERATIONS
City Council action is requested on October 23, 2007, to authorize the execution of the Tenth Amendment.
FISCAL IMPACT
Sufficient funds are budgeted for the Foundation's annual management fee of $516,082 in the General Fund (GP) in the Department of Parks, Recreation and Marine (PR).
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
PHIL T. HESTER
DIRECTOR OF PARKS, RECREATION AND MARINE
APPROVED:
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