Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council committee approves 30‑year downtown lease with PNH Properties; public commenter cites missing appraisal
Summary
The Public Health and Safety Committee on Sept. 16 approved a 30‑year lease with PNH Properties LLC for a downtown courtyard and a fire substation, after a public commenter said the committee's file lacked a required appraisal and a councilmember raised concerns about no rent being paid.
The Public Health and Safety Committee on Sept. 16 approved an ordinance (BL2025-1011) authorizing two lease agreements with PNH Properties LLC for use of courtyard space behind downtown buildings at 120 Third Avenue North and 211 Commerce Street. The leases run 30 years and include construction of a downtown fire substation and a public programming commitment by the lessee.
A public commenter, identified as Steve Ryder, told the committee the file lacked a required appraisal. "Metro code of laws 2.24 0.225, appraisal report required for the Metropolitan Council approval," Ryder said, reading the code aloud and noting, "There is no current value in this file." Ryder said Colliers International provided only a market-rent analysis and that…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
