Sunday, July 13, 2014
The Show Me Innovation Center is moving closer to having a home after last Tuesday’s Fulton City Council meeting.
In its pursuit of the former Fulton Police Department building located on Sixth and Ravine streets, Innovation Center Committee Chair Kim Barnes presented a draft lease agreement between the organization and the city.
“When we’re self sustaining we may be able to purchase the building,” Barnes told the council.
Barnes said the draft is a five-year term lease with automatic renewal. Rent is set at $1 per year.
In the draft, the city would provide free utilities for the first two years of the five-year term, and the Show-Me Innovation Center would pay more to its utility bill with each year. There would be an annual cap at $24,000.
Barnes also said the innovation center wouldn’t sublease, but could host small business owners and act as a business incubator.
The organization would also have liability coverage and insurance.
As of Tuesday, more than 50 donors have given about $35,000 to the Show Me Innovation Center.
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