Item 4E
Lease Agreement with Top Flight Gymnastics
Item 4E
Requested Action
City Council renewal of a five (5) year lease agreement with Top Flight Gymnastics, Inc. (Scott Taylor) for facilities at the Southlake Sports Complex
Location Map - SSC
Southlake Sports Complex – 2100 Crooked Lane
City-owned Property
Southlake Sports Complex - 2100 Crooked Lane – Top Flight facility in circle
Financial Consideration
Revenue Income to City General Fund
$12,818.67 x 12 months = $153,824 yr
($8.00* per square foot x 19,228 sq ft.)
*Comparable properties in Southlake lease at an average rate of $8.00 per square foot.
Term of Lease
September 2, 103 – December 31, 2018
Previous agreements lease terms:
2000 – 2005 (5 year)
2005 - 2010 (5 year extension)
2010 – present (month to month extension)
2030 Master Plan comments on Southlake Sports Complex, including Top Flight Gym leased area
Forced Ranked Priority #2
Tier 2 (4-7 years timeframe) improvements
Recommendations:
Aesthetic and circulation improvements
Level of development TBD by future of City’s Service Center
Considerations
5 year lease agreement with Top Flight will not interfere with development of the property as identified in the Master Plan
Lease will benefit City by continuous revenues generated over term of lease
Citizen / Board Input
Lease agreement based on previous agreements
City Attorney to review lease agreement prior to City Council consideration
Top Flight Gymnastics, Scott Taylor’s attorney reviewed
City Council consideration August 20, 2013
Questions? Kari Happold