Regular 2.
Regular City Council Meeting
- Meeting Date:
- 12/18/2017
- TITLE
- Babcock Theatre Lease/Sale Discussion
- PRESENTED BY:
- Bruce McCandless
- Department:
- City Hall Administration
Presentation:
Yes
PROBLEM/ISSUE STATEMENT
In 2017, an Ad Hoc committee directed staff to advertise and complete a Request for Proposals to Lease, as well as an Invitation for Bids to buy, the City-owned property commonly known as the Babcock Theatre.
Both documents were advertised November 17 and 24, 2017, in the Yellowstone County News. All parties who had previously expressed interest, were personally notified via email.
Proposals to lease the theater were received December 8, 2018, and bids to purchase the theatre were received December 12, 2018.
Staff recommends that the City Council delay approving the sale or lease until the January 8, 2018, meeting.
Both documents were advertised November 17 and 24, 2017, in the Yellowstone County News. All parties who had previously expressed interest, were personally notified via email.
Proposals to lease the theater were received December 8, 2018, and bids to purchase the theatre were received December 12, 2018.
Staff recommends that the City Council delay approving the sale or lease until the January 8, 2018, meeting.
ALTERNATIVES ANALYZED
Council may delay approving the sale or lease until the January 8, 2018, meeting.
FINANCIAL IMPACT
None at this time.
RECOMMENDATION
Staff recommends that the City Council delay approving the sale or lease until the January 8, 2018, meeting.