Here are four takeaways:
1. The lease includes a payment of $130,655 for the first year, with the annual payments increasing by 1.5 percent for every year after.
2. The lease also includes the option for Summit Orthopedics to extend the lease by two five-year periods after the first 10 years have passed.
3. Summit Orthopedics has been part of the community for 30 years, and employs as many as 45 orthopedic specialists and another 125 staff that includes physician assistants, therapists and certified athletic trainers.
4. As part of the agreement, Summit has included “a community investment component” where the company will make a financial contribution of $100,000 in the first year and up to $50,000 every year after for community wellness programs and initiatives, according to Bob Klatt, director of Parks and Recreation.
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