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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 exit mechanism.
What council and staff said
Mister Hovlett (City staff) explained the lease language and said the existing draft was phrased as a year‑to‑year lease with some termination provisions that applied only for cause; he said the clause wording caused interpretation issues in prior agreements and offered to “shore that up” in the draft. Alderman McClellan proposed adding a 60‑day termination clause “with or without cause” so both sides have recourse if problems arise. McClellan said, in part, that a 60‑day mutual termination provision is “pretty typical in a lot of contracts.”
Process and vote
Alderman Clemens moved to approve the lease; Alderman O'Donoghue seconded. Alderman McClellan moved to amend the lease on the floor to add the 60‑day termination without cause language; Alderman Downs seconded the amendment. The council adopted the amendment by roll call; the council then approved the lease as amended by roll call. Council discussion noted staff would incorporate the agreed language and return a finalized document for signature. Council members and staff said LEAD may not be ready to occupy the space until January 2026 while organizational and space‑preparation details are completed.
Ending
City staff will finalize lease language and prepare the agreement for signature; the council did not specify additional conditions in open session. The council then moved on to other items and later entered executive session to discuss purchase or lease of real property under Section 2(c)(5).
