Title
Approving permanent easements for the Hotel Lowry's use of portions of the adjoining City Hall Annex.
Body
WHEREAS, the City of Saint Paul ("City") owns the City Hall Annex building at 25 West Fourth Street ("Annex"), and the Hotel Lowry, LLC ("Lowry") owns the adjoining building at 345 Wabasha Street ("Hotel") in Downtown Saint Paul; and
WHEREAS, the Lowry is currently engaged in renovating the Hotel for incoming tenants and wishes to use approximately the easterly 15 feet of the Annex first floor for tenant space and common area, and a portion of the Annex second floor hallway, stairway and first floor hallway as a fire exit for Hotel occupants; and
WHEREAS, the City has agreed to provide permanent easements for the requested spaces within the Annex in exchange for fair market compensation or other consideration, such as build-out of a street-level bar and restaurant, as documented in the City Hall Annex First Floor Easement Agreement, attached hereto as Exhibit A, and the Fire Exit Easement Agreement, attached hereto as Exhibit B; now, therefore be it
RESOLVED, that the Mayor and Council of the City of Saint Paul do hereby approve said City Hall Annex First Floor Easement Agreement and Fire Exit Easement Agreement between the City and Lowry in a form and content substantially as set forth in Exhibits A and B, and authorize and direct the proper city officials to execute said documents and record same with the Ramsey County Recorder's Office and/or Registrar of Titles.
Financial Analysis
Financial Analysis is not applicable.