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Lease of City Property - Market House
For the purpose of authorizing the lease of the Market House to New Market House, LLC, the Tenant for an initial term of July 1, 2033, through June 30, 2038, with additional optional renewal terms, subject to certain terms, provisions, and conditions; and matters generally relating to said lease.
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City Council of the
City of Annapolis
Ordinance 33-25
Introduced by: Mayor Buckley
Co-sponsored by:
Referred to: Finance Committee,
Economic Matters Committee,
Rules and City Government Committee
AN ORDINANCE concerning
Lease of City Property - Market House
FOR the purpose of authorizing the lease of the Market House to New Market House, LLC, the Tenant for an initial term of July 1, 2033, through June 30, 2038, with additional optional renewal terms, subject to certain terms, provisions, and conditions; and matters generally relating to said lease.
WHEREAS, The City of Annapolis owns certain real property located at 25 Market Space in the City of Annapolis, Maryland, commonly referred to as the Market House; and
WHEREAS, the Tenant currently leases the Market House under a separate lease with the City of Annapolis that expires on June 30, 2033; and
WHEREAS, The City Council expressly finds that continuing to lease the Market House to the Tenant will better serve the public need for which the property was acquired; and
WHEREAS, City Charter, Article III, Section 8 requires that the lease of City property be authorized by ordinance of the City Council.
SECTION I: BE IT ESTABLISHED AND ORDAINED BY THE ANNAPOLIS CITY COUNCIL that the Lease Agreement between the City of Annapolis and New Market House, LLC, for the lease of the Market House located at 25 Market Space, Annapolis, Maryland, is attached hereto and made a part of this Ordinance, be and the same, is hereby authorized and approved.
SECTION II: AND, BE IT FURTHER ESTABLISHED AND ORDAINED BY THE ANNAPOLIS CITY COUNCIL that the attached Lease Agreemen...
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