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Board reviews proposed Osceola Golf Course restaurant lease, requests monthly reporting and equipment, performance addenda
Summary
Board members discussed a proposed three-year lease for the Osceola Golf Course restaurant, questioned current $1,500 monthly base rent under the prior tenant, asked for clearer equipment and performance standards, and requested the lease return to the board with agreed addenda before council consideration.
The Parks and Recreation Board heard a presentation and detailed questions on a proposed new lease for the restaurant and banquet space at Osceola Golf Course. City staff and a broker presented the draft lease and identified an operator the broker has proposed; members requested changes and will consider a revised lease at the next board meeting before forwarding it to City Council.
Michael Caro, the broker involved in locating an operator, told the board the current arrangement with the incumbent tenant, Fusion Grill, pays $1,500 a month and is run on a month-to-month basis after an earlier contract expired. Caro said the city currently loses money under that structure because pass-through expenses (utilities, taxes, insurance and similar costs) exceed the $1,500 base rent. "If you think about what it currently is, the current $1,500 is a loss. The city is losing everything," Caro said.
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