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EDA approves two downtown leases: Veil Creek Boutique and Yummy Bites to occupy commercial spaces
Summary
The Shakopee Economic Development Authority approved two lease agreements Feb. 4 — a one-year lease with Veil Creek Boutique Fashion LLC and a five-year lease with Yummy Bites (with an option to renew) — clearing the way for two businesses to occupy downtown spaces.
The Shakopee Economic Development Authority (EDA) voted on Feb. 4 to approve two separate lease agreements for downtown commercial space.
The EDA approved a one-year lease with Veil Creek Boutique Fashion LLC for an annual rent of $23,760. The EDA also approved a five-year lease with Yummy Bites (a Minneapolis-based coffee-and-treat concept) for a starting annual rent described in the motion as $39.60 and stated in the meeting transcript as “30 9 thousand 60 dollars,” with one month free rent, an annual rent increase thereafter, and an option to renew for an additional five years. Staff described a rent-free February and March to allow tenant fit-out and said the EDA would install storefront signage. Yummy Bites representatives described product offerings, hours (typically 1 p.m. to midnight in their existing location) and an intended spring opening after Ramadan, likely in April.
EDA staff presented the leases and summarized terms including tenant fit-out requirements, tenant use of EDA-planned mechanical contractors for certain work, and signage installation by the EDA. The leases were discussed at the EDA meeting portion of the council session and were approved by motions on the floor with members voting in favor.
EDA members asked questions about tenant background, hours of operation, and the details of rent and renewal terms. When the Yummy Bites owners addressed the board, they described their family-owned background, product mix (baklava, specialty milkshakes, mini pancakes, waffles and lattes) and operating experience in an existing Minneapolis location. They told the EDA they sometimes remain open past midnight and expect a downtown Shakopee demand for late-night sweet treats.
Both lease motions passed by voice vote. The EDA will complete lease-execution paperwork and coordinate tenant fit-out, signage, and opening schedules with the tenants and city staff.
Note: the meeting transcript spelled the local development authority once as the “Chicago Economic Development Authority”; the official body is the Shakopee Economic Development Authority and all references in this article use the correct local name.
