OTHERRENEWED

City of Clare AgendaPacket Renewal of Lease Agreement – Kremsreiter Farms – Industrial Park #3 2026-05-04

Clare renews IP3 farmland lease with Kremsreiter Farms

$160.00 per acre per year (approximately $9,120.00 annually for 57 acres)City of ClaireKREMSREITER FARMSMay 4, 2026

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Description

The Clare City Commission approved Resolution 2026-024 renewing a farmland lease with Kremsreiter Farms for approximately 57 acres in Industrial Park #3 at $160 per acre, yielding about $9,120 in annual revenue. The renewed lease runs from May 4, 2026 through December 31, 2026, with options for mutual renewal and specific termination provisions tied to planting and rent payment.

Contract Details

Contract Amount

$160.00 per acre per year (approximately $9,120.00 annually for 57 acres)

Vendor

KREMSREITER FARMS

Agency

City of Claire, SD

Contract Type

OTHER

Document Date

May 4, 2026

Contract Term

May 4, 2026 to December 31, 2026; month-to-month holdover thereafter if not renewed; lease may be renewed on same terms by mutual consent

Renewal Date

2026-12-31

Renewal Info

Lease renewed via Resolution 2026-024 on May 4, 2026, for a one-year term ending December 31, 2026, with the option to renew on the same terms and conditions by mutual consent, including potential renegotiation of rental price and renewal period. Lease automatically terminates on March 20 of any year if prior-year rent is unpaid or no satisfactory arrangements are made.