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Warroad council approves amended lease with Warroad Ventures for LOW Brewery, including assumption of Port Authority loan
Summary
Council approved an amended lease with Warroad Ventures for the LOW Brewery property that updates lease term and rate, defines permitted uses, and requires assumption of the current Port Authority loan and personal guarantees; council action carried unanimously.
Warroad — The City Council on May 11 approved a revised lease agreement with Warroad Ventures for the LOW Brewery property. Councilors discussed proposed amendments that clarified lease term, rent rate, permitted uses of the building and the inclusion of the assumption of the current Port Authority loan; the council also recorded that personal guarantees would be required as part of the amended lease.
Councilor Joe Olafson moved to approve the amended lease as presented, including assumption of the Port Authority loan and personal guarantees; Councilor Kevin Thompson seconded and the motion carried unanimously. City staff said the amendments were intended to formalize use and financial responsibilities tied to the property.
The record does not include the precise loan amount or the full lease text; council minutes say the lease was approved subject to the noted terms and that staff will finalize the agreement.
