I. RECOMMENDATION:
Staff recommends that the City Council consider and approve the Lease Agreement with the IMAGINARIUM: Institute of Fine Arts for the property located at 180 Pierce Street-Community Garden.
II. BACKGROUND:
The current lease agreement for the premises located at 180 Pierce is leased by Pierce Street Community Garden, LLC. The current LLC is being dissolved and the Imaginarium: Institute of Fine Arts would like to lease the property.
III. DISCUSSION:
The Imaginarium: Institute of Fine Arts would lease the property for the same terms as the Pierce Street Community Garden, LLC. One year term for the rate of $1.00 per year.
IV. ALTERNATIVES:
The City Council may choose not to approve the lease agreement.
V. FISCAL IMPACT:
The fiscal impact is dependent upon the final approved. |