IV.6. Approve Renewal of Depot Coffee House Lease with Hopkins Public Schools; Harkess (CR2016-057) 1
June 7, 2016 Council Report 2016-057
APPROVE 2016-17 TO 2020-21 CITY OF HOPKINS
& HOPKINS PUBLIC SCHOOLS LEASE AGREEMENT
FOR DEPOT COFFEE HOUSE EDUCATIONAL PROGRAM
Proposed Action
Staff recommends approval of the following motion: Move approve the 2016-17 through 2020-
21 Depot Coffee House Education Program Lease between the City of Hopkins and the Hopkins
Public Schools.
Overview
The current lease between the City and School for the Depot Educational Program (also known
as Levy for Lease) expires at the end of this school year on June 30, 2016. The Depot Coffee
House and Hopkins Public Schools would like to extend this successful program which provides
an annual $50,000 to the Depot Coffee House budget. The Hopkins Public School Board
approved the new 5-year lease at their May 5, 2016 board meeting. This lease provides for two
semi-annual payments of $25,000 each for a total of $50,000 per year or $250,000 over the 5-
year lease period.
The contract is basically the same contract we’ve used for the past 10 years. In addition the City
attorney has reviewed the contract and had no substantial changes. Staff is recommending
approval of the lease agreement.
Supporting Documents
Lease Agreement 2016-17 to 2020-21
______________________________________
Christine M. Harkess, CPA, CGFM
Finance Director
Financial Impact: $ 50,000 annually Budgeted: Y/N X N Source: ISD 270
Related Documents (CIP, ERP, etc.): __Budget_________ Notes: __________________