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Consideration and Adoption of Resolution No. 2020-47: A resolution approving Amendment Three to lease agreement between the City of Flagstaff and Theatrikos, Inc. |
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Mr. Clifton explained that the proposal is an amendment to an existing lease to include a force majeure clause where contracted parties relieve their responsibilities of the contract when there is tragedies, calamities, and natural disasters happen. The clause would apply to a natural crisis such as a pandemic and it has ceased business and revenues. Theatrikos pays near market rate rent so this would allow for abatement of rent. The resolution is the first step to allow a six-month rent abatement. |
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Moved by Councilmember Charlie Odegaard, seconded by Councilmember Austin Aslan to read Resolution No. 2020-47 by title only.
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Vote: 7 - 0 - Unanimously |
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A RESOLUTION OF THE FLAGSTAFF CITY COUNCIL, APPROVING AMENDMENT THREE TO LEASE AGREEMENT BETWEEN THE CITY OF FLAGSTAFF AND THEATRIKOS, INC. |
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Moved by Councilmember Austin Aslan, seconded by Councilmember Jamie Whelan to adopt Resolution No. 2020-47.
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Vote: 7 - 0 - Unanimously |
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