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Management and Operation of <br />The Cabrillo Tennis Center <br />June 17, 2013 <br />Page 2 <br />The initial term of the operating agreement will be for five years, with four, five -year renewal options. <br />With a one year notice, the City Council will be able to terminate this agreement without cause. <br />Elson De Cantauria did inform the City that he would prefer a two year notice of termination without <br />cause. <br />Match Point will pay the City a monthly base rental of $4,000 (or $48,000 annually). This agreement <br />will help achieve salary savings and other operational cost savings. <br />FISCAL IMPACT <br />Funds generated from the agreement will be deposited into the General Fund - Tennis Reservation account (account <br />01113002- 53318). <br />Gerardo Mouet, <br />Executive Director <br />Parks, Rec. and Com. Svcs. Agency <br />Approved as to Funds and Account: <br />Francisco Gutierrez, <br />Executive Director <br />Finance and Management Services Agency <br />25G -2 <br />