Riverfront commission reviews short-term lease renewals at Union Station

At its June meeting the Riverfront Improvement Commission reviewed several lease updates at Union Station, including a one-year extension for the sailing club, a one-year renewal for restaurant tenant I Love Foo Foo and a proposed three-year lease for Visit Quad Cities with a first-year utilities cap.

City staff told commissioners the sailing club would receive a one-year extension from July 1 to June 30, continuing prior terms to allow the club and the city time to prepare a longer-term proposal for council consideration. Don Alabak was referenced as having provided an initial proposal to a subcommittee the commission will staff; commissioners Denise and one other volunteered to join a working group with club representatives.

I Love Foo Foo, a restaurant in the Union Station building, exercised the first of two one-year renewal options and signed the current one-year extension. Staff said none of the lease financial terms changed and that the tenant had converted a prior sublease into a standalone lease.

Visit Quad Cities representatives, reported staff, are close to finalizing a three-year lease; the draft shifts utility responsibility to the tenant, with a first-year cap of $750 and a planned proportional analysis in years two and three to set each year’s utility share. Staff said Visit Quad Cities' board is meeting the evening after the commission and that the city's recommendation would be contingent on board approval.

Commissioners briefly discussed meter configuration (tenants are not on separate meters for most utilities) and how utility costs are apportioned by square footage. No formal lease approvals were recorded at the meeting for these items. The commission did approve consent payments at the start of the session: a motion to approve payments carried by voice vote.