posted on March 29, 2011 07:17
A proposed new lease for the city owned ice rink would more than double the city’s revenue from the facility.
The lease with Firland Management, the company that runs the Falleti Ice Arena on Evans Street, expires this August.
City Manager Jason Molino details the lease payments :
“The new lease allows for almost double or more the amount of lease payments the city has been receiving. In the past year, the city has been getting around $7,000 per year.
Moving forward, we (the city) will get $15,000 for the first two years, $17,500 for the next two years and $20,000 in the final year of the agreement.”
Proceeds from the lease, Molino said, are held in reserve:
“Those funds are to be put into a capital improvement fund for capital improvements that may need to be done to the facility that the city is responsible for at a later point in time.”
City Council is expected to approve the lease at its next business meeting.