6.30.26 - Special Session Museum Lease

Proposed Lease Agreement 
Between the Town and River 
of Time Museum

Background
• 25-Year Lease between Town and Museum Association; expires 
August 15, 2026
• Rent $1 annually; Total $25
• Town provided $210,000 
• Cost of displays and exhibits
• Lighting
• Other permanent improvements
• Town pays for maintenance, utilities and janitorial services

Town Requirements
• Any consideration of renewal requires an evaluation of 
compliance with state law.
• Highest and best use of a Town-owned facility.

Gift Clause
• Arizona’s Gift Clause exists to protect taxpayers. It ensures 
public dollars are used for a clear public purpose and that the 
Town receives fair value in return.
• Two common questions:
• Is there a clear public purpose; and
• Is the Town receiving fair market value?

Timeline - Staff
EcDev and Public 
Works
16 Sep.
Town Manager, EcDev 
Director and Public 
Works Director
23 Sep.
Town Manager, 
Directors
20 Oct.
Attorney and EcDev 
Director
4 Nov.
Town Manager, EcDev 
Director and Museum
17 Nov.
Attorney and EcDev 
Director
2 Dec.
Attorney and EcDev 
Director
16 Dec.

Timeline - Staff
Town Manager, 
EcDev Director 
and Museum
26 Jan.
Attorney and 
EcDev Director
27 Jan.
EcDev Director 
and Museum
3 Feb.
Attorney and 
EcDev Director
10 Feb.
Attorney and 
EcDev Director
17 Feb.
Attorney and 
EcDev Director
3 Mar.
EcDev Director 
and Museum
3 Mar.
Attorney, EcDev
Director, Museum 
and their 
Attorney
10 Mar.
Attorney and 
EcDev Director
31 March

Timeline - Staff
EcDev Director and Museum
Executive Director
11 June
Attorney and EcDev Director
16 June
Attorney and EcDev Director
EcDev Director and Museum 
Executive Director
17 June
Town Manager, Attorney and 
EcDev Director
EcDev Director and Museum 
Executive Director
22 June
Attorney and EcDev Director
EcDev Director and Museum 
Executive Director
23 June
EcDev Director and Museum
Executive Director
24 June

Timeline - Council
Executive Session
18 Nov.
Executive Session
16 Dec.
Council Retreat
24 Feb.
Executive Session
17 March
Executive Session
7 April
Executive Session
23 June

Proposed Lease
• Considerations:
• Lease Term: August 16, 2026 – June 30, 2027
• Rent: September $1,500; $1,000 per month thereafter
• Public Benefit: Free admission days, free programming, completion of a third-
party economic impact analysis
• Reporting Requirements as outlined in the lease
• June 24 –Museum Board of Directors approved the lease        
as drafted

Staff Recommendation
• Staff recommends approval.

Questions?