Grand Forks Committee of the Whole Minutes November 2024
City Recommends 50-Year Lease Renewal with US Army Reserve
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Description
The City of Grand Forks has recommended approval for the renewal of the land lease with the US Army Reserve for the Elton W. Ringsak Reserve Center and vehicle maintenance shop at 520 North 47th Street. The new lease will begin January 1, 2025, for a term of 50 years at a cost of $1.
Contract Details
Contract Amount
$1 (for entire 50-year term)
Vendor
US ARMY RESERVE
Agency
Town of Falconer, ND
Contract Type
OTHER
Document Date
November 12, 2024
Contract Term
January 1, 2025 – December 31, 2074 (50 years)
Renewal Date
2074-12-31
Renewal Info
Original 50-year lease began in 1974; this renewal is for a new 50-year term starting 2025. No mention of automatic renewal at the end of this term.
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