01/16/2001 RA RPT 03 - Laserfiche WebLink

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CITY OF RIVERSIDE REDEVELOPMENT MEMORANDUM People Serving Peorle HONORABLE MAYOR AND REDEVELOPMENT AGENCY SUBJECT: Sublease for Mission Inn Museum 1998 DATE: January 16, 2001 ITEM NO.: 3 BACKGROUND: At its meeting of December 19, 2000 the Redevelopment Agency entered into a thirty (30) year prepaid lease with the Historic Mission Inn Corporation (HMIC) for office and museum space within the Mission Inn. Under the terms of that lease, the Agency is permitted to sublease without HMIC's written approval for a period of thirty (30) days following the lease execution In as much as both the museum and office space are occupied and supervised by the Mission Inn Foundation, staff has prepared the attached Sublease Agreement with this organization. Under the Sublease, the Mission Inn Foundation will continue to utilize the leased space for their offices and the public museum and will be responsible for compliance with all applicable terms of the original lease of the Agency. FISCAL IMPACT: None ALTERNATIVES: To retain control and responsibility for the office and museum space ourselves. RECOMMENDATION: That the Redevelopment Agency authorize its Executive Director to execute on behalf of the Agency the Sublease Agreement with the Mission Inn Foundation. Prepared/Approved by: Concurs with: Executive Director Jod/~E. Holmes City Manager 3-1