HomeMy Public PortalAboutAB 22-215 Cougar Enterprises Lease OptionMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 22-215
Meeting Date August 11, 2022
AGENDA ITEM INFORMATION
SUBJECT:
Request for Approval of Cougar Restaurant Enterprises, Inc. to Exercise the Renewal Option for One Five-Year Term for the Commercial Lease of the Restaurant Portion of the McCall Golf
Club
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Originator
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
None
Parks and Recreation
FUNDING SOURCE:
Revenue contract
Airport
Library
TIMELINE:
By August 25, 2022
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The city has received a written request from Cougar Restaurant Enterprises, Inc. to exercise the Renewal Option of their commercial lease with the city for the restaurant portion of
the McCall Golf Club, currently operating under the name Banyans on the Green. The current lease expires on October 31, 2022. According to the commercial lease (attached) all other
terms and conditions remain the same. The lease already contains a formula for future rent payments and increases. The operator has complied with all terms and conditions of the lease
and has operated the restaurant to the city’s satisfaction. By authorizing the extension before August 25th, which is the date of the FY23 budget public hearing, city staff can proceed
with the new revenue formulas as part of our FY 23 budgeting process for the Golf Fund.
RECOMMENDED ACTION:
Approve a 5-Year extension of the commercial lease with Cougar Restaurant Enterprises, Inc. for the restaurant portion of the McCall Golf Club with a new termination date of October
31, 2027.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION