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Authority reviews 13th amended NDSU operating lease and agrees to forward for city approval
Summary
Staff presented a one-year amended operating lease with NDSU (July 1, 2026–June 30, 2027) at $165,000 per year plus game expenses and said the signed document will be forwarded to the City Commission for final approval and signatures; the Authority moved to accept and send the lease package onward.
Staff told the Authority they had sent a 13th amended lease agreement to NDSU that reflects a one-year term and unchanged rent and asked the Authority to sign and forward the agreement to the City Commission. The presentation said the lease would be a one-year term "July 1 through 06/30/2027" at "the 165,000 a year plus game expenses" and that the tenant had also renewed its suite and advertising agreement.
A board member moved to accept the report and to forward the lease to the City Commission for approval and signatures; staff said the Authority's signature is required prior to City Commission action. The item will be sent to the City Commission for formal administrative approval and signature as described by staff.
