MERIDIAN —
Several changes in the lease for a new police department in Meridian will be discussed today when the Meridian City Council reconvenes a recessed meeting.
The Meridian City Council on Tuesday tabled action to execute a lease agreement with Meridian Law Enforcement Center, LLC because changes to the lease were not ready.
The Center is a an entity of Watkins Development, the firm which is contracted as a development consultant for the city.
The lease is to rent a new police station from Meridian Law Enforcement Center after Watkins Development renovates the former Cowboy Maloney building on 22nd Avenue.
Councilwoman Barbara Henson said she received a copy of the lease on Thursday around 11 a.m.
"The changes give the city a little more power to work when we become tenants," she said.
The project has been the center of controversy since work that started last May came to a standstill as developer David Watkins awaited tax credits that will help fund the project.
The city will pay rent over a period of 20 years for a minimum of $8.2 million, including $2.1 million the city will pay up front from funds derived from police department seized property.
Those funds are among changes Henson said she saw as she examined the revised agreement. The revised lease, if approved, will specify that those funds be held in escrow until a certificate of occupancy is issued, Henson said.
Other changes include a restriction of the use of the building. The city may not rent out the space for non-municipal purposes, Henson said.
Also, the city and Watkins will agree on a punch list when the building is ready and the developer will be responsible for taking care of the items on the list.
The lease stipulates that annual rent will be $305,000, allowing for possible increases based on the consumer price index every five years. The first year that could happen is being changed from 2016 to 2018.
Today's recessed meeting will reconvene at 4 p.m. at City Hall.
Local News
June 22, 2012
Council to examine PD lease today
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