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<br /> <br /> <br /> <br /> <br /> <br />Council Agenda Item Cover <br /> <br />________________________________________________________________ <br /> <br /> <br /> <br />MEETING DATE: <br /> September 24, 2007 <br /> <br />AGENDA ITEM TITLE: <br /> Renewal of contract for ATM machine at the Parking <br />Garage <br /> <br />AGENDA SECTION: <br /> Consent Agenda <br /> <br />CAN THIS ITEM BE RESCHEDULED? : <br />Yes <br /> <br />BACKGROUND REVIEW: <br />The City contracted with Commerce Bank to place an ATM <br />machine in the City Parking Garage for public use. The end of the present lease is <br />coming due and the bank has stated the desire to extend the lease for a period of five <br />(5) additional years. The new negotiated base rent is $12,150 which is a 12.5% <br />increase over the last five (5) year period. The revenue received is deposited to the <br />Parking Garage Fund. <br /> <br />RECOMMENDATION: <br />Approval of five-year contract is recommended. <br />H-1-a <br />September 24, 2007 <br /> <br />