Title
Resolution Authorizing Lease Agreement between the City of Greensboro and the Natural Science Center of Greensboro Inc., for Operation of the Greensboro Science Center
Body
Department: Parks and Recreation
Council District: 3
Public Hearing: Not Applicable
Advertising Date/By: Not Applicable
Contact 1 and Phone: Chris Wilson, Assistant City Manager, 373-2002
Contact 2 and Phone: Phil Fleischmann, Parks and Recreation Interim Director, 373-3275
PURPOSE:
Adopt a resolution approving a lease to the Natural Science Center of Greensboro, Inc. for the operation of the Greensboro Science Center.
BACKGROUND:
The City has had a longstanding relationship with the Natural Science Center of Greensboro, Inc. ("NSC") since the creation of the first lease in 1989.
Most recently, the City and NSC had previously entered into a three-year lease agreement on June 26, 2014 and executed two extensions on December 16, 2015 and June 19, 2016. The current lease expired on June 18, 2017. A new lease agreement is needed in order to continue with the partnership at the Greensboro Science Center and it will have a one-year term with two one-year renewal options
As part of the Lease Agreement, NSC will pay the City $1 annually and pay for all utilities associated with the operation of the facility to include: gas, electric, water, sewer and telephone. The City will pay during the initial term of the lease $1,085,000 in quarterly installments to offset the costs and expenses incurred in the operation of the Science Center. Additionally, the City has the option to provide in-kind contributions to the operation and maintenance of the Science Center to offset out-of-pocket expense that would be otherwise incurred by NSC for operations and maintenance. The Science Center is required to maintain commercial general liability insurance for bodily injury and property damage and has provided the City with a new certificate of liability insurance.
For maintenance requireme...
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