R2021-66 Resolution Authorizing the City Manager to Negotiate Terms and Conditions and Execute a Lease Agreement for Space on the 2nd Floor of the Decatur Public Library with Thinkwell Makerspace Industries, LLC

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LEASE AGREEMENT This Agreement is made by and between: Landlord/Lessor City of Decatur,an Illinois Municipal Corporation, hereinafter referred to as the"City." Tenant/Lessee THINKWELL Makerspace Industries, LLC., hereinafter referred to as the"Tenant." The Landlord hereby agrees to lease a portion of the following described property: This lease of property shall be in stages,as shown on the attached floor plan,designated as"Exhibit A"and attached hereto and made a part of the lease agreement.The different areas leased under the provisions of this Agreement are all on the second floor of the Decatur Public Library Building, located at 130 North Franklin Street, Decatur, Illinois. The area designated in "Exhibit A"as Phase One will be leased beginning May 1,2021 for the amount of$250 per month,to be paid monthly to the City of Decatur in advance.The Tenant will provide at least ninety(90)days written notice to the City of its intention to expand into Phase Two as designated in Exhibit A. From and after the First day of the month following the date that the City gives possession to the Tenant of the additional area designated as Phase Two,the Tenant shall pay monthly lease payments to the City in the amount of$375 for the combined area of Phase One and Phase Two. This lease shall run for a period of three(3)years,and may be renewed by mutual agreement of the parties to this agreement for successive terms and with different and/or updated conditions.The City agrees, however,that it will not escalate the rent in successive renewal terms at rates exceeding ten percent(10%) per year,and may negotiate lease payments less than this amount based on the progress and financial success of the Thinkwell Makerspace. Terms and Conditions • Use of Property: •The leased property will be used as a maker-space,for small business training, product innovation and development, skills training,coworking/gathering space, use of specialized equipment,education programs, and ancillary offices,food service, research and related uses.