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Council approves amended lease for Enterprise Business Incubator; mayor abstains
Summary
The council authorized an amended lease for manufacturing bay and office space at the Enterprise Business Incubator to reflect Paget Brands' multiple LLCs and to clarify utility allocation and tenant credits for tenant-paid improvements; the mayor recused from the vote and the motion passed.
The Enterprise City Council on Dec. 2 authorized the mayor to execute an amended lease between the city and Paget Brands LLC and Hello Chunky Cookie Company LLC for space at the Enterprise Business Incubator (102 Commerce Drive). The mayor noted he would recuse himself from the vote and did not participate.
Staff said the executed lease did not accurately reflect the original understanding that the umbrella company (Paget Brands) could use the space for multiple LLCs and that tenant-paid improvements, such as security enhancements, would be given credit against rent. The amendment clarifies allowable tenant deductions, a methodology for apportioning utilities when a single meter serves multiple tenants and includes an attached spreadsheet showing rent rates and allowable deductions for auditing purposes.
Councilman Paget was discussed by staff as the tenant-owner behind the brands; the mayor formally recused from the vote and the council approved the amended lease by voice vote.
What happens next: The city will finalize the executed amended lease with the clarified utility allocation and credit methodology and include the spreadsheet documentation in lease records to assist future audits.
