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Agenda item #11
Paragraph #3 The district is entitled to at least 300 hours of ice time.
Rink rental next year is $180 an hour 300x$180 equals $54,000
Paragraph #4 Rent for improvements $200,000
Ice arena improvement rent is $200,000 a year (Addendum C)
Paragraph #5 Annual rent cap
The District's total rent obligation (Paragraph #3 & #4) shall not exceed $250,000 per fiscal year.
Total for next year $54,000 + $200,00 = $254,000
Unless there is a separate written agreement somewhere, this could be a $4,000 subsidy in favor of the school district.
Paragraph #12 The District shall have the right to terminate this Agreement, on a yearly basis, if the School Board of the District does not appropriate funds sufficient to continue this Agreement.
Where is the City's same right?
I would also point out that there are two paragraphs #9 in the document.
Paragraph #9 on page three titled District Use of Ice Arena and Parking Lot
and
Paragraph# 9 on page 4 titled, Alterations