IPR lease is 20-year agreement

June 6, 2018

By David Nordby The Brillion News

BRILLION – The lease agreement between the City of Brillion and Integrated Public Resources LLC (IPR) for the financing of a new city hall on Main Street is a 20-year plan that will cost the city a monthly payment of $10,000.

Brillion City Council approved the lease with IPR in May after a closed session that lasted more than one hour. The exact terms of the agreement were not yet finalized or ready to be made public at that time.

According to Brillion City Administrator Lori Gosz, the agreement is intended to be a triple net lease, where the city pays all operating, maintenance, insurance and repair costs associated with the leased premises.

The city is able to purchase the building after a 12-month notice. The city is also able to terminate the lease at any time by giving a 12-month written notice.

It would have to be negotiated if the previous monthly payments from the city would lower the cost of the building if the city were to purchase it.

Please see the complete story in the June 7, 2018 edition of The Brillion News.