Label
Economic Development
Promenade Park License Agreement
Brandon Sehlhorst (x1692)
Title
Authorizing the Mayor to enter into a License Agreement with the HBC Management, LLC for city-owned property known as Promenade Park, 224 Water Street, Toledo, Ohio; authorizing the receipt, deposit and expenditure of license revenue; making findings with respect thereto; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This ordinance authorizes the Mayor to enter into a license agreement with HBC Management, LLC for city-owned property commonly known as Promenade Park. The License shall have a term of one (1) year at a rate of Ten Dollars and 00/100 ($10.00) per year with two (2) one (1) year extension options subject to mutual agreement of the City and HBC Management, LLC.
The agreement allows HBC Management, LLC to utilize Promenade Park for the purpose of arranging and sponsoring ticketed concerts and related entertainment events that are open to the general public.
The license agreement outlines the terms and conditions under which the Licensee can use the site, the responsibilities and commitments of both parties, and the specific rules and regulations that must be followed during the events. By entering into this agreement, the City aims to support entertainment events within the downtown area and promote the use and enjoyment of Promenade Park by citizens and visitors.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to enter into a License Agreement with HBC Management, LLC, for the property known as Promenade Park as identified in Exhibit "A".
SECTION 2. That the License shall have a term of one (1) year at a rate of Ten Dollars and 00/100 ($10.00) per year with two (2) one (1) year extension options subject to mutual agreement of the City and HBC Management, LLC. A copy of the License Agreement is in substantial final form and is attached to this Ordinance in Exhibit "B".
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