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Committee approves lease at South Norwalk train station for Tacos, Please LLC
Summary
The Land Use and Building Management Committee approved leasing roughly 1,300 square feet at the South Norwalk Train Station to Tacos, Please LLC for an initial five-year term with two five-year extension options; the Norwalk Parking Authority will set rent.
The Land Use and Building Management Committee authorized leasing about 1,300 (plus or minus) square feet at the South Norwalk Train Station inbound side to Adrian Hurtado, doing business as Tacos, Please LLC, for an initial five-year term with two consecutive five-year extension options.
The committee voted to move the lease after a public hearing at the April 2 meeting. Committee Chair Barbara Smith asked whether anyone wished to speak; no public speakers addressed the lease during the hearing portion. Brian Lutz of the Norwalk Parking Authority answered committee questions about the procurement process and tenant screening during the meeting, saying the authority is following standard municipal lease procedures and performing background and credit checks and reviewing five-year pro forma financials from prospective tenants.
Lutz said the Parking Authority will negotiate and approve rent. Committee members asked about contingencies if a tenant fails; Lutz said the draft lease includes a "good guy" clause allowing either party flexibility to exit under defined conditions and that the authority will require notice to seek a replacement tenant.
The committee recorded the motion from James Frayer and then voted; the motion passed unanimously. Smith confirmed rental revenue and tenant-paid expenses for the station will be managed through the Parking Authority fund, and the tenant will be responsible for on-site expenses.
The lease will move forward to full council consideration and to the Norwalk Parking Authority for final rent negotiation and execution.
