Title
Authorizing the City to enter into a 25-year lease renewal with the Brandt Jens Kluge Limited Partnership for a parking lot on city-owned property.
Body
WHEREAS, in 1992 the City of Saint Paul ("City") entered into a 25-year lease agreement with the Brandt Jens Kluge Limited Partnership ("Property Owner") for the Property Owner's use of a portion of Blair Avenue between Elfelt Street and Galtier Street/Como Avenue (the "Leased Premises") that accrued to city park property when the street was vacated in 1991; and
WHEREAS, the Leased Premises, combined with adjacent land owned by the Property Owner, is used as a parking lot to provide parking for residents of Property Owner's "Artist Lofts" apartment building; and
WHEREAS, under the current lease the Property Owner has the option to renew for an additional 25-year term if certain conditions are met (the "Lease Renewal"); and the Property Owner has met those conditions and elected to exercise its option; and
WHEREAS, the Department of Parks and Recreation, on behalf of the City, has agreed to enter into said Lease Renewal, as provided in Exhibit A attached hereto; and
WHEREAS, parkland diversion is not an issue pursuant to Saint Paul Administrative Code Sec. 86.03(b)(3) as the lease extension predates the amendment to the Administrative Code; now, therefore be it
RESOLVED, that the City Council hereby authorizes and directs the proper city officials to enter into said Lease Renewal, as provided in Exhibit A attached hereto.