FACILITIESONGOING

City of Creede AgendaPacket 2026-06-16

City Maintains 50-Year Lease with Creede Repertory Theatre

$1.00 per year plus $350 one-time platting/rezoning feeTown of City of CreedeCREEDE REPERTORY THEATREJune 16, 2026

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Description

The City of Creede continues its 50-year lease agreement with Creede Repertory Theatre for a 0.34-acre parcel used as a production shop, running from April 15, 2006 through April 30, 2056. The lease provides for a nominal $1.00 annual rent, a one-time $350 platting fee, tenant-funded utilities, and periodic ten-year reviews of rental terms.

Contract Details

Contract Amount

$1.00 per year plus $350 one-time platting/rezoning fee

Vendor

CREEDE REPERTORY THEATRE

Agency

Town of City of Creede, CO

Contract Type

FACILITIES

Document Date

June 16, 2026

Contract Term

April 15, 2006 – April 30, 2056 (50-year lease)

Renewal Date

2056-04-30

Renewal Info

Lease term is 50 years with Board review every ten years to consider rent changes while honoring intent of minimal cost. Either party may issue written notice of non-renewal for reasonable cause at least 270 days prior to April 30, 2056. Upon termination, City has right of first refusal to purchase tenant buildings and may require tenant to remove structures within 180 days.