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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 Master Tenant for a certain period of time, 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 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 Master Tenant for a certain period of time, 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, Pursuant to the terms of the current tenant leases of the Market House, as of July 1, 2033, through June 30, 2028, current tenants of the Market House are operating on a month to month basis; and
WHEREAS, Pursuant to Article III, Section 8 of the Annapolis Charter, the City required competitive bids for the right to lease the Market House; and
WHEREAS, New Market House, LLC, has been determined to be the winning bidder in negotiations to lease the Market House; and
WHEREAS, The City Council expressly finds that leasing the Market House 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...
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