Request approval of a short-term lease with owner Yeldarb Inc. for use of building space located along Henry Street at Whitaker Street by the Cultural Affairs Department. The City currently leases +/- 12,800 square feet of building space at this location; which features an art gallery, pottery kiln studio, small community theater, office space, and more. The space will no longer be needed once the new Cultural Arts Center is completed. The lease extension will run from June 1, 2017 to June 30, 2018, with the option to extend on a month-to-month basis for an additional five months. 

The property is now under contract to a buyer who plans to redevelop the property in the near future. The City, current owner, and buyer have negotiated a lease based on a contract rent of $8,000 per month ($7.50 per square foot, partial net) plus minor pass-through expenses. The owner has agreed to pressure wash and paint the stucco exterior walls of the building facing Henry and Whitaker streets, repair and paint the front awning, replace the water-damaged carpeting, and beautify the tree lawn landscape areas within the next 30 days.

Approval