Rent for the structure, located at 207 Main Street next to Harper’s Park, remains a real deal at $250 each month.

Under the new contract, the town assumes responsibility for payment of utilities such as water, sewer, gas, electricity, and janitorial services. Knightdale will also pay for repairs. The previous contract, which was five years long and expired in December 2011, required the chamber to pay for utilities – on paper.

Since the building is also used for the Parks and Recreation Track Out program, a day care, the town paid for most costs other than rent, says Seth Lawless, Knightdale town manager.

“I don’t think they ever paid, definitely not in the last five years,” he said in an e-mail.

The new contract ends in December 2022.

The town reserves the right to terminate the lease within 18 months of written notice, or in the event of condemnation, fire, or other casualties.

The chamber’s location downtown will serve the town well, town officials said.

They expect to see and influx of new businesses upon the completion of the park on First Avenue.

Construction of phase one of the new park is expected to wrap up in late 2012 or early 2013.