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Severance explores downtown overhaul, potential full‑building lease with Pivot Structures
Summary
Town staff presented a Severance Square concept and proposed terms to extend and expand Pivot Structures’ lease, asking council for guidance on a public‑private partnership, parking layout and funding for capital work. Council signaled support to study costs and return with firm terms.
Town Manager Mr. Wood told the council Tuesday night the town has been studying downtown ideas for two years and brought a three‑part proposal: set policy for downtown redevelopment, decide whether to renew and expand the lease with current tenant Pivot Structures, and outline a management concept for a multi‑use Severance Square. He said Pivot currently holds a month‑to‑month lease for roughly 5,000 square feet (Unit B) with base rent of about $3,272 and that discussions with owner Jeff Hansworth indicate the company “would like to make Severance their permanent home.”
Under terms Mr. Wood described, staff and Pivot discussed a three‑year lease with a three‑year renewal option and triple‑net…
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