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Resolution 20-104

Resolution of Intent to Lease Real Property to Rural Technologies, Inc.

Be It Resolved by the governing body of the City of Brookings, South Dakota that the City of Brookings intends to enter into a lease agreement with RTI, LLC., on a month-to-month basis terminating on or before December 31, 2022; and

Whereas, the lease pertains to the following described property:

            Research & Technology Center – 801 32^nd Avenue, Suite 100

Whereas, the Lease will be an amount of $10.00 per square foot for 10,957 square feet of office/lab space and $4.00 per square foot for 2,134 square feet of garage/cold storage space.

Be It Further Noted, that a Public Hearing on this Resolution was held on December 8, 2020 at 6:00 o’clock P.M. at the Brookings City & County Government Center and that all persons were given an opportunity to be heard on the intent to lease real property.

Passed and approved this the 8^th day of December, 2020.

                                                                                    CITY OF BROOKINGS, SD

                                                                                    Keith W. Corbett, Mayor

ATTEST:

Bonnie Foster, City Clerk