Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Estate Lease topic
No spam. Unsubscribe anytime.
Board approves legal review of three-year lease for 216 Park Avenue parking office
Summary
The Downtown Management Board authorized staff to proceed with legal review of a proposed three-year lease for the parking office at 216 Park Avenue; proposed rent rises from $960.98 to $987 per month in January, plus utilities.
The Downtown Management Board voted to proceed with legal review of a proposed three-year lease for the board’s parking office at 216 Park Avenue.
Staff said the board has occupied the Park Avenue office since 2016 on a month-to-month basis and that the landlord proposed a new three-year lease. The current monthly rent is $960.98; the landlord’s proposed rent beginning in January would be $987 per month plus utilities. Staff presented the figure as approximately $20.71 per square foot (as stated in the proposal) and noted the lease would increase by the Consumer Price Index in the following two years if that index is used to adjust annual rent.
Board members described the location as centrally known and accessible, useful for selling permits, tokens and downtown dollars, and noted that other strategic-space possibilities (for example, a move into chamber space) have not advanced and could take years. One board member said a three-year term was reasonable to avoid repeated negotiations.
The board made a motion to proceed with legal review and approved it by roll call vote. Staff will forward the proposed lease to the city attorney for review and return with recommended changes or approval for a future vote as appropriate.
