Board of Directors Regular Meeting Agenda


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Meeting Date: 04/21/2016  

SUBJECT MATTER:
Receive, consider and act upon approval of the Third Modification of Lease Agreement with The Woodlands Development Company for the recreational vehicle storage lot;
FISCAL IMPACT:

Per the 2016 budget, the Township Board of Directors directed the closure of the Township RV storage lot and directed that tenants be given notice of this closure. 

BACKGROUND:
In 1984, The Woodlands Community Association and The Woodlands Corporation entered into an agreement to lease a parcel of property at 1128 Pruitt Road to be used for RV storage. The Lease Agreement was later modified to include The Woodlands Association and The Woodlands Commercial Owners Association.  The purpose for creating the RV storage lot at that time was to offer resident members of the Associations a place they could store boats, RVs and other vehicles at a nominal fee. As the Covenants and Residential Standards do not permit long term storage of RVs on residential lots encumbered with Covenants, a low-cost storage option was desired to provide a service to the members and encourage compliance with the Covenants.
 
The current term of the Lease Agreement expires July 31, 2016; however, either party may provide written notice not more than 30 days nor less than 10 days prior to the expiration of any one year term. During the 2016 Budget process, the Board of Directors approved to discontinue the RV lot service in 2016 and proceed with  terminating the RV lot service and providing notice to tenants that 2016 will be the last year the Township will operate the RV storage lot facility.  An initial notice was provided to RV lot tenants in September 2015 and again in late 2015 with the renewal notices for 2016. 

As it is anticipated that it may take several months to fully vacate the facility after December 31, 2016, it is necessary to modify the current lease agreement with The Woodlands Development Company (TWDC) until July, 2017.   Therefore, a Third Modification to the Lease Agreement has been prepared which formalizes the closure of the lease for this parcel of land (Attachment A).
 
The following is a proposed timeline for closure of the facility based on the lease agreements with the lot renters/tenants and TWDC.
  • January – July 2017: Remove any Township improvements and legally dispose of any remaining / abandoned vehicles.
 
 
RECOMMENDATION:
Authorize the President/General Manager execute the Third Modification of Lease Agreement with The Woodlands Development Company for the RV storage lot.
 
Attachments
Attachment A - Third Modification of Lease Agreement RV Lot


    

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