A RESOLUTION AUTHORIZING THE MANAGER TO EXECUTE A LEASE AGREEMENT FOR THE APPROXIMATELY 6,000 SQUARE-FOOT BUILDING LOCATED AT 2200 HOMESTEAD ROAD FROM JANUARY 1, 2007 UNTIL DECEMBER 31, 2008 (2006-10-23/R-5)

WHEREAS, Sport Art Gymnastics LLC currently operates a gymnastics school in a building owned by the Town of Chapel Hill; and

WHEREAS, the Town desires that the services of the gymnastic school continue to be offered to the citizens of Chapel Hill; and

WHEREAS, the Town has published a public notice of the Council’s intent to enter into a lease agreement with Sport Art Gymnastics LLC; and

WHEREAS, no other party has requested to lease said premises;

NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council authorizes the Manager to execute a two year lease agreement, beginning on January 1, 2007, on behalf of the Town with Sport Art Gymnastics LLC or its successors in interest, for an approximately 6,000 square-foot building at 2200 Homestead Road for the operation of a gymnastics school, said lease containing conditions substantially as the existing lease executed by Sport Art Gymnastics on December 16, 2004.

This the 23^rd day of October, 2006.