4.88.015 Exemptions.
A. The following leases shall be exempt from the requirements of this chapter; provided, that the requirements of subsection (B) of this section are met:
1. Leases for commercial space in the city’s parkade, and other facilities owned or managed by the city’s parking system.
2. Leases for commercial space in the Mt. Baker Theater Building.
3. Renewals of leases pursuant to options to renew contained in lease agreements or where the rate is the same or higher and other terms are not substantially different from an existing lease.
4. Leases for residential or lodging facilities in city parks.
5. Leases which have a value over the term of the lease of not more than $10,000.
6. Leases for commercial space in the Federal Building located at 104 W. Magnolia.
B. The exempt leases listed above shall be subject to the following requirements:
1. Except for leases exempted in subsections (A)(4) and (5) of this section, lease rates shall be market based.
2. Leases shall be approved by the mayor.
3. No lease shall exceed a term of five years; provided, that the lease may contain options to renew for successive periods up to five years each.
4. The council shall be promptly advised by the mayor or his designee when an exempt lease is executed.
5. Leases which do not meet the requirements of this subsection and which are not otherwise exempt require council approval pursuant to this chapter. [Ord. 2010-01-005; Ord. 10753 § 1, 1996].