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Council amends and approves lease for Lincoln Economic Advancement and Development at 500 Broadway to add 60‑day termination clause
Summary
Council debated language in the LEAD lease for office space at 500 Broadway and voted to add a mutual 60‑day termination without cause clause before approving the agreement; staff said LEAD expects occupancy in January 2026.
The Lincoln City Council on Oct. 6 amended and approved a lease between Lincoln Economic Advancement and Development Inc. (LEAD) and the City of Lincoln for office space at 500 Broadway Street, adding a mutual 60‑day termination without cause clause to the agreement.
Why it matters: The amendment gives both the city and LEAD flexibility to end the year‑to‑year lease on 60 days’ notice without alleging cause, a change council members said would protect both parties and provide a clear, reciprocal…
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