DEPARTMENT: Center City Development & Operations
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Renewal and Amendment to Lease Agreement - Jefferson Woodlawn Lake Community Development Corporation, 1800 - 1814 Fredericksburg Road
SUMMARY:
This ordinance authorizes the execution of the 1st Renewal and 1st Amendment to Master Lease and Management Agreement with the Jefferson Woodlawn Lake Community Development Corporation for the continued use of the City-owned property known as the Travis Building, located at 1800-1814 Fredericksburg Road, in City Council District 1, for a term of ten years.
BACKGROUND INFORMATION:
The Travis Building (Building) was acquired by the City in conjunction with the Elmendorf Street Drainage Project in 1995. As the Building was located at the center of a key activity node in the 'Deco District' commercial corridor, it was targeted for revitalization under the Neighborhood Commercial Revitalization (NCR) Program. Pursuant to Ordinance No. 94958, dated November 15, 2001, the City entered into a Master Lease and Management Agreement with the Jefferson Woodlawn Lake Community Development Corporation (CDC), who was selected through the RFP process to partner with the City to redevelop the Building as well as manage, operate and maintain the Building for an initial term of fifteen years, with a ten-year renewal option. This action will serve to exercise the ten-year renewal option effective May 1, 2017.
ISSUE:
Approval of this ordinance is consistent with the City's policy to enhance the vitality of neighborhood commercial corridors. Additionally, the lease has expired and requires Council approval of the CDC's renewal option.
ALTERNATIVES:
The alternatives to not renewing this 1st Renewal and 1st Amendment to Master Lease and Management Agreement, would be for the City to pursue another qualified tenant to manage and maintain the Building, or the City could choose to ...
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