Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development Arts topic
No spam. Unsubscribe anytime.
Council approves 20-year lease with Hennepin County for new Edina arts center
Summary
The council approved a 20-year lease for roughly 15,473 usable square feet in the new Hennepin County Library building for an Edina arts center; the city would pay about $5 per square foot base rent and approximately $16,700 monthly total, and the county will fund tenant improvements to be reimbursed by the city over the lease term.
The Edina City Council voted Oct. 22 to approve a 20-year lease with Hennepin County for space in the county’s under-construction library building that will house a new Edina Arts Center.
Under the lease, the city would occupy approximately 15,473 usable square feet (about one-third of the building’s 67,370 square feet). Base rent is set at $5 per square foot; staff estimated total monthly rent (base plus additional operating costs and the city’s share of building expenses) at about $16,700, roughly $204,000 annually. The county will complete tenant improvements and the city will reimburse the county for those tenant improvements over the lease term. The city will also cover about 23% of shared operating expenses for common areas such as community rooms and the lobby.
City staff described the arrangement as fiscally responsible compared with the ongoing maintenance costs and required upgrades for the existing art center. Councilmember Jackson moved approval; Member Wagner seconded the motion. After discussion about tenant-improvement costs, shared expenses and gallery-wall construction, the council voted to approve the lease.
Tracy (city project staff) told the council that tenant improvements, furniture, fixtures and equipment and design fees are included in the lease reimbursement arrangement with the county and that the city had negotiated typical true-up procedures for shared operating expenses.
The council approved the lease by voice vote. The motion authorizes continued negotiations on the remaining operational memoranda (for example, a separate MOU for maintenance of green space) and directs staff to proceed with final lease execution and subsequent design work.
