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<br />I <br /> <br />I <br /> <br />I <br /> <br />Sponsored by: Janke <br /> <br />CITY OF SEWARD, ALASKA <br />RESOLUTION 2000-005 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br />ALASKA, AUTHORIZING THE AMENDMENT OF CERTAIN LEASE <br />AGREEMENTS RELATING TO THE BOARDWALK PROPERTY IN THE <br />SMALL BOAT HARBOR. <br /> <br />WHEREAS, the City made certain improvements benefiting certain City-leased land along the <br />boardwalk in the Small Boat Harbor, including property leased to Kenai Fjords Tours, a division of Alaska <br />Heritage Tours Inc, Emerald Sea, Inc. dba Major Marine Tours, Carl I. and Kim Hughes, Randy J. <br />Becker, Richard A. and Linda Worabel, and Alaska Heritage Tours, Inc, a wholly owned subsidiary of <br />Cook Inlet Region, Inc. (collectively, the "Lessees"); and <br /> <br />WHEREAS, the improvements included boardwalk improvements, sewer and water improve- <br />ments, and paving; and <br /> <br />WHEREAS, in consideration for such improvements, the City and Lessees have detennined that <br />the Lessees should pay for said improvements through the payment of additional rent under the lease <br />amendments described below; and <br /> <br />WHEREAS, the Lessees have agreed to make the additional rent payments quarterly, together <br />with the regular lease payments; and <br /> <br />WHEREAS, in consideration of the additional rent, the City agrees to maintain the regular rent <br />payment at the 1999 rate until the rental adjustment date of July 1, 2005, with such regular rent to be <br />adjusted on that date and thereafter as provided in the leases; and <br /> <br />WHEREAS, although the regular rental rate would otherwise have been adjusted to fair market <br />rental value on the rental adjustment day ofJuly 1, 2000, the City finds that it is in the public interest to <br />maintain the 1999 rental rate for a limited period. Even if the 1999 rental rate is less than the year 2000 <br />fair market rental value, the additional rent paid to the City will cover a substantial portion of the cost of <br />the City improvements, and, the regular rental rate under each lease will ultimately be adjusted to fair <br />market rental value on July 1, 2005 and each year thereafter. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF SEWARD, ALASKA, that: <br /> <br />Section 1. The lease agreements relating to the boardwalk lease properties, including Lessees <br />Kenai Fjords Tours, a division of Alaska Heritage Tours Inc., Emerald Sea, Inc. dba Major Marine Tours, <br />Carl I. and Kim Hughes, Randy J. Becker, Richard A. and Linda Worabel, and Alaska Heritage Tours, lnc, <br />a wholly owned subsidiary of Cook Inlet Region, Inc., shall be amended as follows: <br />