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Bel Air approves updated Armory Marketplace leasing fees for new tenants
Summary
The board approved Resolution 1264-26 to adjust Armory Marketplace incubator leasing rates and security deposits for leases starting after May 1, 2026. Staff said rates remain below market to support incubator goals; existing leases are not affected.
Bel Air commissioners on April 6 approved Resolution 1264-26 updating leasing rates and security‑deposit requirements for tenants of the Armory Marketplace incubator program.
Staff said the new rates apply to tenants who sign leases with a start date after May 1, 2026, and that existing tenants with leases that begin before that date will not be affected. The revised per‑square‑foot rates were increased from the last adjustment (January 1, 2024) to reflect market changes and increased operating obligations, but staff said the town aims to keep incubator rates below market to support local small businesses.
A security‑deposit increase is included. Staff recommended approval and noted that resolutions do not legally require a public hearing, though the board may schedule one by discretion; the board chose to approve the resolution rather than hold an advertised hearing.
No public comments were offered at the meeting; the resolution passed unanimously.
