The City’s lease with Sausalito Center for the Arts and a midyear budget adjustment are among the topics on the agenda for the regular meeting of the City Council at 7:00 p.m. on Tuesday, February 20.The hybrid-format meeting will be conducted in the City Hall Council Chambers and via Zoom. It will also be broadcast live on the City website. Business items on the meeting agenda include:
- 5A: Midyear Budget. For item 5A, the Council will consider adopting a resolution to adjust the City’s 2023-24 operating and capital budget to reflect increased revenue of $1.4 million and a reduction in expenses by $394,410. Finance Director Chad Hess projects that the City will end the fiscal year with a general fund balance of $11,773,524, not including the $3,706,458 in the City’s pension trust. Staff report for item 5A 5B: City Property Leases. For this item, the Council will provide policy direction to City Staff on the pricing and management of rental properties owned by the City, which currently generate approximately $2.24 million annually. Staff report for item 5B 5C. Center for the Arts Lease. The Sausalito Center for the Arts (SCA) is requesting that the City Council continue charging a monthly rent of $4,029 for the former Bank of America Building rather than increasing it to $11,095 per month as of March 2024, as stipulated in the lease agreement signed by SCA in August 2022. Staff report for item 5C
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