Vote — approved

Steve Gallardo	yes
Jack Sellers	yes
Bill Gates	yes
Steve Chucri	yes

88.AGREEMENT WITH ARIZONA SPORTS COMPLEX REGARDING PAYMENT REDUCTION AND DEFERRAL Approve and authorize execution of Payment Reduction and Deferral Agreement which reduces rent payment by 50% and defers the due date for Arizona Sports Complex’s (ASC) quarterly payment in the amount of Twenty-Two Thousand Eight Hundred Dollars and No/100 ($22,800.00) to Eleven Thousand Four Hundred Dollars and No/100 ($11,400.00) that was due on April 1, 2020 to April 1, 2021. ASC leases a 5.583 acre portion of F

Item Text

88. AGREEMENT WITH ARIZONA SPORTS COMPLEX REGARDING PAYMENT REDUCTION AND DEFERRAL Approve and authorize execution of Payment Reduction and Deferral Agreement which reduces rent payment by 50% and defers the due date for Arizona Sports Complex’s (ASC) quarterly payment in the amount of Twenty-Two Thousand Eight Hundred Dollars and No/100 ($22,800.00) to Eleven Thousand Four Hundred Dollars and No/100 ($11,400.00) that was due on April 1, 2020 to April 1, 2021. ASC leases a 5.583 acre portion of FCD Parcel P-6611 (APN 206-40-002) near Adobe Dam (west of 35th Avenue and south of Pinnacle Peak Rd). Under the terms of the ground lease with the District, ASC constructed and operates a 52,000sf sports and recreation building, an outdoor soccer arena and its associated parking lot. ASC's lease was amended in early 2020 (Amendment to Lease Agreement AD2004-01 Phase 1, recorded February 20, 2020, C-69-19-025-6-01) to extend the term of the lease, establish a new quarterly payment schedule, clarify maintenance responsibilities, and add a provision requiring annual structural inspections of the Lessee’s improvements. COVID-19 was already a global concern at the time the amendment was fully executed. To combat the spread of the COVID-19 pandemic, on March 17, 2020, following updated guidance from the Centers for Disease Control and Prevention, the Arizona Department of Health Services issued updated guidance that included preventing gatherings of 10 or more people, thereby further limiting certain types of recreation activities, leagues, and programs. In light of the statewide Executive Orders for closures and curtailed events which negate income at the leased property, on March 23, 2020, Lessee requested that Lessor consider abatement of rents and defer the quarterly payment due on April 1, 2020. This item is located in Supervisory District #3 (C-69-19-025-6-02)

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