Hannibal City Council Approves General Mills Lease Change
The Hannibal City Council Tuesday night approved a revision of its lease agreement with General Mills.
GM Cereal Properties Inc. has leased a warehouse on Warren Barrett Drive from the city since 2003.
Since the latest renewal of the lease in 2018, General Mills has invested over $235,000 in upgrading the property.
To compensate General Mills, the city agreed to reduce its monthly rent payment for the remainder of the current lease agreement, which runs through 2027.
Also, a second and final reading was given to the city’s 2020-21 budget. Among the changes made before the budget was passed was an additional $4,700 to complete repairs on a levee pump gate.