Laserfiche WebLink
CC Work Session <br />Meeting Date: 05/31/2011 <br />By: Jo Thieling, Administrative Services <br />Title: <br />Consider Lease Agreement for 6811 Hwy 10 by TMBC, LLC, dba Crystal Pierz Marine <br />Background: <br />Crystal Pierz Marine wishes to lease City -owned property located at 6811 Highway 10 NW in Ramsey. This <br />L- shaped parcel located on the north side of the Highway does not have a building and is being used solely as a <br />parking lot and outdoor storage facility. In August 2009 the City purchased this property from Pro Sporting Goods <br />or PSG, LLC at a cost of $757,700. During the same month the City leased the property back to PSG for $1,600 per <br />month. PSG, LLC leases the adjacent building to the east (See attached site map) to TAM, LLC. TAM, LLC in turn <br />has a sub -lease for a portion of the building used by Crystal Pierz Marine. The past lease for this parcel expired last <br />fall. Neither PSG nor TAM wish to lease this lot, therefore the logical tenant is Crystal Pierz Marine. <br />Since getting responsibility for resolving this lease issue (end of February 2011), the Economic <br />Development/Marketing Manager has been in negotiations with the parties involved. Crystal -Pierz Marine has <br />expressed a willingness to accept a one -year lease of the property commencing April 1, 2011 and terminating <br />March 31, 2012. The monthly rate would be $1,600 per month. The permitted use would remain the same and the <br />tenant would be leasing the property "as is ". <br />Recommendation: <br />City staff recommends that the City Council consider approving the proposed lease with TMBC, LLC dba Crystal <br />Pierz Marine. It would be beneficial to lock in this agreement as soon as possible. <br />Funding Source: <br />Maintenance of the parking lot would be the responsibility of the tenant <br />Council Action: <br />Move forward with considering the proposed one -year lease at the next Regular City Council meeting. <br />6811 Hwy 10 Site Map <br />Proposed Crystal Pierz Lease <br />2.5. <br />Inbox Reviewed By <br />Kurt Ulrich Jo Thieling <br />Form Started By: Jo Thieling <br />Attachments <br />Form Review <br />Final Approval Date: 05/26/2011 <br />Date <br />05/26/2011 03:14 PM <br />Started On: 05/26/2011 03:10 PM <br />