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With no further comments or questions, Mayor <br />Fauson closed the public hearing and called for a <br />motion. <br />Szymanski moved that Ordinance #920 be adopted on <br />final reading. Scarpella seconded. By Roll Call <br />Vote Ordinance #920 was adopted 5-0. <br />(Mayor Fauson asked that the record show that. Councilmen Sackett and <br />Anderson are now present and have joined the remainder of the meeting.) <br />DISCUSSION - AUSTIN PROPERTY LEASE WITH CHAMBER <br />OF COMMERCE Hundley presented to Council the draft lease <br />agreement between the City of Louisville and the <br />Chamber of Commerce for the Austin Property and <br />prepared by City Attorney, Curt Rautenstraus. <br />Hundley explained that since Council did not have <br />the opportunity to look at the lease prior to the <br />meeting, he would answer any questions or concerns <br />and final action could be taken at Council's next <br />regular meeting. <br />Hundley explained that his rationale for <br />recommending exclusive negotiations with the Cham- <br />ber of Commerce for leasing this facility is: 1) <br />maintaining the Austin house as a single family <br />residence is inconsistent with City code and <br />policy; 2) leasing the Austin house for any <br />commercial use totally unrelated to City <br />operations would require a significantly greater <br />investment (approximately $7,500) to meet the <br />City's building code; 3) charging a fair market <br />lease rate for this property will ensure that any <br />lease agreement with the Chamber is handled as an <br />"arm's length" transaction. <br />In response to a question regarding subleasing, <br />Rautenstraus responded that subleasing and/or <br />assignment of the lease would not be allowed <br />without the express consent of the City. The <br />lease is designed to cover the City's master lease <br />purchase agreement with Jinco including the <br />notification of all leasing. <br />Other aspects of the proposed lease were discussed <br />and staff was directed to have a final draft ready <br />for signing at the next Council meeting. The <br />lease contract will begin immediately upon signing <br />and rent will begin upon occupancy after the <br />building has been brought up to code by the <br />Chamber. <br />5 <br />