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Owasso staff proposes phased rent to formalize Chamber lease after two-decade lapse
Summary
City staff proposed a one-year lease for the Owasso Chamber of Commerce building at 315 S. Cedar, starting at $900/month and stepping up over several years toward an inflation-adjusted level; council asked staff to add options to renew and to return draft lease language for review.
City staff told the Owasso City Council that the Chamber of Commerce has occupied 315 South Cedar without a valid lease for more than two decades and that the city needs a formal landlord-tenant agreement.
Staff said an appraisal indicated market rent close to $2,200 per month for the roughly 1,734-square-foot building, while applying simple inflation to the Chamber's historic rate produced a mid-range figure in the $1,200/month area. "We appraised it and that came back a little better than $2,200 a month," staff told…
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