ORDINANCE [To Authorize the Mayor to Enter into Lease Agreements Between the City of Prattville and Various Small Businesses to Operate in the Incubator Spaces Located at 124 West Main Street.] WHEREAS, the City Council of the City of Prattville works through and with the Prattville Economic Development Team to attract and retain economic development projects; and WHEREAS, the City of Prattville's Economic Development Team has recognized the need for the development of a local business incubator focused on supporting small businesses interested in locating within the City of Prattville; and WHEREAS, the property located at 124 West Main Street, which can house up to fifteen (15) businesses of various sizes, brings an opportunity to focus on service and technology- based businesses; and WHEREAS, each entity would have a separate lease for operation through a graduated rental fee per square foot, a CAM common area maintenance) fee per square foot, and a utility fee per square foot reflecting common area maintenance needs and common utilities being paid by each Lessee; and WHEREAS, a business incubator is a goal for the Prattville community. The City of Prattville Economic Development Team will partner with the Prattville Area Chamber of Commerce for programming, small business committee work, and co-marketing and branding of the facility. NOW, THEREFORE, BE IT ORDAINED that the City Council of the City of Prattville concurs that an incubator is an important step in the development of local small businesses and hereby approves the recommendations of the Economic Development Team. BE IT FURTHER ORDAINED that the City Council of the City of Prattville hereby authorizes the Mayor to negotiate and execute lease agreements for and on behalf of the City in addition to any and all documents and agreements necessary to effectuate the development of the small business incubator to the extent and as permitted by applicable law, and to take all such further action as shall be necessary or desirable to carry out the purposes and intent of this Ordinance. ADOPTED THIS 2ND DAY OF SEPTEMBER, 2025. By: Lora Lee Boone, President, Prattville City Council AUTHENTICATED THIS 2ND DAY OF SEPTEMBER, 2025. BY Paula G. Barlow, City Clerk APPROVED: By: Bill Gillespie, Jr., Mayor ORDINANCE BOOK 2025, PAGE 024 September 14 2025 LTUS0366549