Title
Approval of a Resolution Authorizing the Lease of City-Owned Property Located at 116 4th Avenue W to the Great India Cuisine, Inc.
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the resolution authorizing the lease of the property located at 116 4th Avenue W to Great India Cuisine, Inc., and authorizing the City Manager to execute all documents necessary.
Report
Issue:
Whether to approve lease of the property located at 116 4th Avenue W to Great India Cuisine, Inc.
Staff Contact:
Mike Reid, Economic Development Director, 360.753.8591
Annaliese Harksen, Deputy City Attorney, 360.753.8338
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
On September 25, 2018, the City of Olympia Council authorized the acquisition of real property located at 116 4th Ave W, (the Property) to be used to support mixed use development including commercial, residential, civic use, and structured parking. Recognizing that an extended period of time will be required to accomplish the necessary public process to determine the elements of the contemplated future development, staff proposes that the vacant space at 116 4th Ave W be leased for a three-year term to the existing tenant, Great India Cuisine, Inc.
The lease to Great India Cuisine, Inc., will support the economy of downtown by allowing an existing restaurant to remain in its current location for three years, with possible extensions to the agreement with agreement of both parties, until such time as the City decides to redevelop the property.
In consideration for the lessee's anticipated move, the City offered relocation expenses and will maintain rent at the existing rate for the three year period.
Neighborhood/Community Interests (if known):
Occupation of the property by lessee will provide for consistency and stability in the neighborhood and will likely allow for less involvement of the City than would be required ...
Click here for full text