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Agency proposes one-year lease, $5,500 monthly, for Glenwood site while master plan progresses
Summary
Staff recommended a one-year lease with a six-month extension at 4258 Franklin Boulevard to keep the building occupied during Glenwood master planning; board discussed rate, flexibility and next steps but recorded no formal authorization at the meeting.
Ally Camp, economic development manager and CETA liaison, presented proposed lease terms for a CETA-owned building at 4258 Franklin Boulevard and recommended a one-year lease with a six-month extension at a rate of $5,500 per month.
Camp said staff recommends the short term to preserve flexibility while the Glenwood master plan moves from land-use work into infrastructure planning and delivery. The proposed $5,500 monthly rate was described by Camp as coming from a current sublet on the property; staff said the amount would allow CETA to maintain an active use on the site while most of the Glenwood master plan area remains vacant.
A board member noted the agency is currently receiving about $600 per month from the site; Camp confirmed the $5,500 figure reflects the current sublet and that the business in the building is comfortable continuing to pay that amount.
Staff requested that the board authorize the city manager to negotiate and enter into a lease agreement under the proposed terms. Board members asked clarifying questions about whether the rate had been reconsidered and expressed support for the proposal; no formal motion or recorded vote authorizing the city manager appeared in the transcript.
Camp closed the item by asking whether staff needed anything further; board members said no and the meeting moved on. The recommended terms recorded in the meeting materials were a one-year lease with a six-month extension available and a monthly rent of $5,500.
