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Agenda Item (IV-D-1)

Meeting9/4/2012 - Committee
Agenda ItemCommittee - Resources (IV-D-1)
SubjectProperty Use Agreement to establish Norco Trading Post with A-10 Advisors
College/DistrictNorco
Funding N/A
Recommended ActionIt is recommended that the Board of Trustees approve the property use agreement with A-10 Advisors.

Background Narrative:


Attached for the Board’s review and consideration is a property use agreement between Riverside Community College District and A-10 Advisors to operate a market (Norco Trading Post).

 

Key points to the terms of the agreement:

(1)  Three five-year terms and a four month startup period.
(2) Hours of operation for the Norco Trading Post will be from 5am (setup) to 5pm (close) every Saturday and Sunday with the exception of certain days that would coincide with events held by the City of Norco or Norco College.
(3)  A-10 Advisors will ensure the College property is cleaned and ready for classes prior to Monday morning.
(4) Employment priority will be given to Norco College students and priority consideration for space at the Market shall be given to local venders when available.
(5)  A-10 Advisors will share with the College vendor space and admission revenues as well as food and beverage revenues as outlined in the agreement.
(6)  In the event that issues arise between the parties or as a result of outside influences and those issues cannot be resolved between the parties to everyone’s satisfaction, either party may terminate this agreement within 180 days’ written notice to the other.
Prepared By: Paul Parnell, President, Norco College
 Jim Miyashiro, Chief of Police

Attachments: