Title
Authorizing an initial 10-year conversion of the current Term with up-to two 5- year Renewal Terms for a Lease Agreement the City has entered into with the First Tee of Greater Philadelphia for operating, managing and maintaining the John F Byrne Golf Course, all under certain terms and conditions.
Body
WHEREAS, The City of Philadelphia, acting through its Department of Parks and Recreation and the First Tee of Greater Philadelphia entered into a Lease Agreement on August 14, 2020 for an Initial Term of one year and for Renewal Terms totaling up-to three years; and
WHEREAS, Section 3.02 et seq. of the Lease Agreement contemplates and authorizes the City Administration to request City Council to introduce and pass an ordinance converting the Initial Term from one-year to ten years, ending on August 13, 2030, and authorizing up-to two (2) Renewal Terms of an additional five (5) years each that would begin on August 14, 2030; NOW THEREFORE,
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Council hereby authorizes and converts the Initial Term of the Lease Agreement, the substance of which is substantially described in the Term Sheet attached hereto as Exhibit "A," such that the period will be ten (10) years, ending on August 13, 2030.
SECTION 2. Council additionally authorizes up-to two (2) five (5) year Renewal Terms of the Lease Agreement which would begin on August 14, 2030.
EXHIBIT A
Lease Agreement Term Sheet
1. Parties. The City of Philadelphia, acting through its Department of Parks and Recreation (the "City"), and The First Tee of Greater Philadelphia ("First Tee").
2. Lease. The City leases the John F. Byrne Golf Course (the "Site"), located at 9550 Leon Street, to First Tee to operate, manage and maintain for an Initial Term of one (1) year with up-to three (3) one-year Renewal Terms. The Commencement Date was August 14, 2020. The Lease contemplates a conversion of the Initial Term from one (1) year to ten...
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