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Council approves amended lease for the Refuge and a new Wild Rose Studios lease at Keating Park
Summary
The council amended an existing lease for the Refuge at RM Keating Historical Enterprise Park and approved a separate five-year lease with Wild Rose Studios LLC; the Refuge lease's stated financial impact was increased by a friendly amendment to $20,356.43.
The Middletown Common Council on April 6 approved two lease actions at RM Keating Historical Enterprise Park (180 Johnson Street).
First, the council amended a previous resolution concerning the 1,000-square-foot tenant known as the Refuge. The council adopted a friendly amendment to the financial-impact statement, increasing the minimum revenue expected over the lease term to $20,356.43. Councilwoman Shanae Fulton proposed the financial figure during the discussion and the council voted to approve the amended resolution.
Separately, the council approved a five-year lease with an option for an additional five-year term for Wild Rose Studios LLC for a 540-square-foot space at Keating Park. The mayor was authorized to sign necessary documents subject to review by the office of general counsel.
Both measures were presented during the night's public-hearing portion; the clerk confirmed that required signage was posted at the property. An online participant corrected the tenant name for the first lease, noting it should read "the Refuge" rather than "The Ridge." No public opposition was recorded and both measures passed on voice votes.
Why it matters: Keating Park is a municipal enterprise park used to host small businesses and nonprofits; these lease decisions affect local tenants, projected lease revenue and the city's management of the enterprise park.
Next steps: The mayor is authorized to execute the leases after counsel review; staff will implement the revised fiscal impact figures in the city's records.
