Fiscal Note
Annual rent payable for the first lease year shall be in the amount of $697.50 and shall be deposited into the General Fund (Acct. No. GN01-78220). Rent shall be subject to a 3% annual increase beginning on the first anniversary date of the lease.
Title
Authorizing the Mayor and City Clerk to execute a Lease with Deacon Housing, LLC for a portion of the City’s East Rail Corridor located adjacent to 2304-2308 Atwood Avenue.
Body
WHEREAS, Deacon Housing, LLC is the new owner of property located at 2304-2308 Atwood Avenue (the “Abutting Property”); and
WHEREAS, portions of the existing building and parking lot located on the Abutting Property encroach into the City’s East Rail Corridor; and
WHEREAS, Deacon Housing, LLC desires to enter into a lease with the City for the areas of such encroachments; and
WHEREAS, the terms of a Lease have been negotiated between the Office of Real Estate Services and Deacon Housing, LLC and approved by City Engineering staff.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a Lease with Deacon Housing, LCC (“Lessee”) on the following terms and conditions:
1. The City shall lease to the Lessee those portions of the East Rail Corridor identified as “Area 1” and “Area 2” on attached Exhibit A (collectively, the “Leased Premises”), which areas are contiguous to the Lessee’s Property located at 2304-2308 Atwood Avenue (the “Abutting Property”).
2. Area 1 of the Leased Premises consists of approximately 150 sq. ft. and shall be used by the Lessee for the following purposes: (a) pedestrian ingress and egress to and from the Lessee’s building located on the Abutting Property (the “Subject Building”), as identified on Exhibit A; (b) staging purposes when performing maintenance and repairs to the Subject Building; and (c) to accommodate the existing encroachments of the Subject Building into the East Rail Corridor, as such encroachments are depicted on attached Exhibit B. Area 2 of ...
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