HomeMy WebLinkAboutCity Council Resolution 2018-300
C ITY OF P LYMOUTH
R ESOLUTION N O. 2018-300
R ESOLUTION A PPROVING A SSIGNMENT OF L EASE A GREEMENT FROM H ARING &
W ALSTROM LLC TO D ARK H ORSE A THLETICS LLC
FOR THE P LYMOUTH I CE C ENTER D RY L AND T RAINING F ACILITY
WHEREAS, Haring & Walstrom, LLC, d/b/a Acceleration Minnesota, NW (“Acceleration”) entered
into a Lease Agreement with the City of Plymouth (“City”) dated June 10, 2014 (“Lease Agreement”) to
lease 7500 square feet of the building owned by the City at 3650 Plymouth Boulevard, Suite 100,
Plymouth, Minnesota (“Leased Premises”), where Acceleration operated a dry land training facility
(“Business”); and
WHEREAS, the term of the Lease Agreement ends on October 30, 2024; and
WHEREAS, on July 18, 2018, Acceleration provided written notice to the City regarding its
intention to convey to Dark Horse Athletics, LLC (“Dark Horse”) all right, title and interest in and to the
Business together with its interest in the Lease Agreement effective September 1, 2018; and
WHEREAS, the Lease Agreement requires approval of Acceleration’s Assignment of the Lease
Agreement; and
WHEREAS, City staff have reviewed Dark Horse’s finances, corporate records, business model
and operational structure and recommends consent of an Assignment of the Lease Agreement to Dark
Horse; and
WHEREAS, Acceleration have requested the City to consent to and execute the Assignment and
Assumption of Lease and Consent (“Assignment”) attached as Exhibit A.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that the Assignment of the Lease Agreement from Acceleration to Dark Horse is approved
and the Mayor and City Manager are authorized to execute the Assignment of the Lease Agreement.
APPROVED by the City Council on this 28th day of August, 2018.