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| June 25, 2020 City Council Meeting | |
| Title 23. Approval of a First Amendment to the Motorcoach Parking Lot Lease for 602 East Lathrop Avenue (PIN 1-0536-01-003A) | |
| Strategic Priority Good Government | |
| Description Staff have negotiated a rent relief provision with the landlord at 602 E. Lathrop Avenue (Great Dane), which is currently being used by Parking Services for the purposes of accommodating parking for visiting motor coaches dropping off visitors to the downtown core. The landlord has agreed to work with the City and grant a reduction of 50% of the agreed upon Base Rent due from July 1, 2020 to December 31, 2020. The total rents to be abated are $11,720.36. Commencing January 1, 2021, the City will resume rent amount at 100%. These terms provide savings to the City at a time of decreased revenue due to COVID-19.
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| Recommendation Approval | |
| Contact David Keating, Senior Director of Real Estate Services | |
| Financial Impact Savings of $11,730.36 benefiting the Parking Fund | |
| Review Comments | |
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Attachments Exhibit 1: Map - Motor Coach Parking Lot.pdf Exhibit 2: Motor Coach Parking Lease Parking Lot Lease First Amendment.pdf |
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