DEPARTMENT: Center City Development and Operations Department
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
La Villita Lease Agreement
SUMMARY:
This ordinance authorizes a one-year La Villita Lease Agreement with Brandy Garcia d/b/a B.link for use of Building 14B.
BACKGROUND INFORMATION:
Brandy Garcia d/b/a B.link has been a temporary tenant in La Villita since June 2016. B.link specializes in the retail sale of unique handmade silver and copper jewelry as well as handmade clothing and accessories. City Staff has evaluated B.link’s performance over the past year and concludes that the retail mix and varying price points are successful at attracting residents and visitors.
The proposed lease with B.Link is for building 14B which totals 166 square feet. The agreement is for a one-year term effective November 1, 2017 and includes two, one-year renewal options.
ISSUE:
Approval of this ordinance is consistent with the City’s practice of leasing City-owned property in support of downtown retail activity.
ALTERNATIVES:
The City may elect not to approve this lease agreement, which would result in B.link remaining as a temporary tenant or vacating.
FISCAL IMPACT:
The total amounts to be paid by B.link for the initial lease term are summarized below.
|
Lease Year |
Base Rent |
Utilities/CAM |
Monthly Total |
Annual Total1 |
|
11/1/17 - 10/31/18 |
$229.08 |
$61.42 |
$290.50 |
$3,363.82 |
|
1 Yearly total reflects rental abatement provided in April due to NIOSA. |
All funds received will be deposited into the General Fund.
RECOMMENDATION:
Staff recommends approval of the La Villita Lease Agreement with Brandy Garcia d/b/a B.link, effective November 1, 2017 through October 31, 2018.