MEMORANDUM
DATE: September 8, 2006
TO: ISAIAH HUGLEY
CITY MANAGER
FROM: LYNNETTE GROSS. DIRECTOR
COMMUNITY REINVESTMENT
SUBJECT: WRENN PROPERTY RENTS
Per your request, the following is a breakdown of the rents being
waived on South Lumpkin Road:
Currently the following tenants remain on the property, on a month to month
rent.
Hispanic Restaurant - $650.00 per month
Hispanic Grocery Store - $325.00 per month
Church - $325.00 per month
Porta Potty storage - $250.00 per month
Also, there is currently a 25 year Lease for a cell tower with a remaining life
of 17 years. Annual lease payment is $3,650, increasing 10% per year. This
lease is remaining in place and will provide revenue.
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