HomeMy Public PortalAbout2011_06_14_R072 Suppl Appro GM Enterprise Center Rent EscrowThe Town of
Leesburg,
Virginia
PRESENTED June 14, 2011
RESOLUTION NO. 2011 -072 ADOPTED June 14, 2011
A RESOLUTION: APPROVING A $99,960 SUPPLEMENTAL APPROPRIATION FOR THE
RENT ESCROW REQUIRED FOR THE GEORGE MASON ENTERPRISE
CENTER LEESBURG LEASE
WHEREAS, in January 2008, the Leesburg Economic Development Commission voted to
move forward with an incubator study in conjunction with George Mason University; and
WHEREAS, on October 27, 2009, the Town Council of Leesburg, Virginia resolved that a
Memorandum of Understanding be approved with the George Mason University School of Public
Policy's Mason Enterprise Center to evaluate proposals and provide a recommendation for a Mason
Enterprise Center model located in Leesburg; and
WHEREAS, based upon 14 requirements of the Town, Loudoun County, and George Mason
University, a team of evaluators reviewed expressions of interest and selected the property owned
by Heritage Properties at 202 Church Street, SE, Leesburg, Virginia as the site for the Mason
Enterprise Center; and
WHEREAS, a lease to house the Mason Enterprise Center Leesburg at 202 Church Street,
SE has been signed and requires a rent escrow of $99,960.
THEREFORE, RESOLVED, by the Council of the Town of Leesburg in Virginia that the
FY 2011 General Fund Operating Budget is hereby amended and a supplemental appropriation is
made in the amount of $99,960 for the Economic Development Department for the fiscal year
beginning July 1, 2010 and ending June 30, 2011 to pay the rent escrow required by the lease to
house the Mason Enterprise Center Leesburg at 202 Church Street, SE, Leesburg, Virginia.
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A RESOLUTION: APPROVING A $99,960 SUPPLEMENTAL APPROPRIATION FOR THE
RENT ESCROW REQUIRED FOR THE GEORGE MASON ENTERPRISE
CENTER LEESBURG LEASE
ATTEST:
PASSED this 14 day of June, 2011.
P:\Resolutions\Resolutions 2011 \0614 Suppl Appro Mason Enterprise Center Lease Rent Escrow.doc
C. mstattd, Mayor
Town of Leesburg