Title
A Resolution Approving a Ground Lease Between the City of Foley and Baldwin County Board of Education
Summary
Description of Topic: (who, what, where, when, why and how much)
The City would like to enter into a ground lease with the Baldwin County Board of Education for property located at the North West Corner of Pine Street and US Hwy 98 for $1.00 per year. The City will maintain and make certain improvements to the property. The ground lease will be for a term of thirty (30) years with two (2) renewal options of twenty (20) years each.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
Body
WHEREAS, the City would like to enter into a ground lease with the Baldwin County Board of Education for property located at the North West Corner of Pine Street and US Hwy 98 for $1.00 per year, and
WHEREAS, the City will maintain and make cert...
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