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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> Memo No. 08-137 <br /> October 15,2008 <br /> TO: Honorable Mayor Michael T. Carrigan and ity Council <br /> FROM: John A. Smith,Interim City Manager <br /> Greg C. Crowe,Assistant City Manager of Economic&Urban Developme� <br /> SUBJECT: Amendment to Lease with Joyner Radio <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached resolution <br /> authorizing the amendment of the lease of up to 35 pazking spaces in Municipal Parking Garage <br /> B(corner of Water St. &North St)with Joyner Radio. <br /> BACKGROUND: City Council approved the original lease with Archway Broadcasting on <br /> March 5, 2007. Since tha.t time Joyner Radio purchased the radio sta.tions from Archway and is <br /> the successor to the lease. Joyner Radio currently does not need 27 pazking spaces, the initial <br /> amount of parking spaces leased, and desire to amend the lease to allow a lower amount of <br /> pazking spaces. T'he amendment will allow them to lease less than 27 pazking at a higher <br /> monthly rate of$12.00 per parking space per month which is the regular rate for Parking Gazage <br /> B. <br /> Also,the amendment changes the payment cycle from annual payments to monthly payments. <br /> POTENTIAL OBJECTIONS: N/A <br /> INPUT FROM OTHER SOURCES: N/A <br /> STAFF REFERENCES: If Council members have questions they may contact Greg Crowe <br /> 424-2727, or at gcrowe@decaturil.gov <br /> BUDGET/TIME IMPLICATIONS: NIA <br />