Title
Mountain View Chamber of Commerce Ground Lease.
Recommended Action
Authorize the City Manager to execute a new ground lease with the Mountain View Chamber of Commerce (Chamber) with the following terms and conditions:
1. Basic lease term of 10 years, with two 5-year renewal options, subject to approval by the City Council.
2. Maintain a nominal rent of $1.00 per year in exchange for the Chamber providing those services and benefits to the City each year as listed in Attachment 1 to the Council report.
3. On or before September 1 of each year of the lease term, the Chamber submit an annual report to the City detailing its activities and accomplishments in support of business advocacy, economic development, and visitor services.