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TO: Mayor Robert J. O’Connor
FROM: Chuck Nelson, Director of Neighborhood Standards
DATE: February 1, 2017
SUBJECT:
Resolution to authorize the City of Aurora to renew a Commercial Lease Agreement with Riverfront Playhouse, for the space located at 13 S. Water St. commonly known as the Vargas Building.
PURPOSE:
Resolution authorizing the City of Aurora to renew a Commercial Lease Agreement with Riverfront Playhouse, for the commercial space located at 13 S. Water Street.
BACKGROUND:
In a continued effort to standardize leases, the Department of Neighborhood Standards (DNS) will be presenting all leases to the Council prior to their expiration for review and approval.
The City of Aurora originally entered into a lease agreement with Riverfront Playhouse for this space back in 2008. The space is approximately 6,000 sq. ft. and is used for an independent theater. The agreement for this space has been continued on a year to year basis.
DISCUSSION:
The attached lease agreement proposes a two year term and can be renewed if mutually agreed by the City and tenant. The monthly rent for this space is $400 per month. In addition, a security deposit of $400 will be paid at the execution of this lease agreement.
IMPACT STATEMENT:
The approval of this lease agreement would allow for Riverfront to continue operating their community theatre in a space that would otherwise sit vacant.
RECOMMENDATIONS:
To approve the renewal of this Commercial Lease agreement for the space at 13 S Water St.
cc: Alderman O’Connor, Chairman
Alderman Mervine
Alderman Bohman
Alderman Mesiacos, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution authorizing a new Commercial Lease Agreement with Riverfront Playhouse for approximately 6,000 square feet of space located on the first floor of the Vargas Building located at 13 S. Water St.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, the space at 13 S. Water St has been previously and is currently being used by Riverfront Playhouse and
WHEREAS, the lease agreement is for a one year term and can be renewed if mutually agreed by the City and tenant. The monthly rent for this space is $400 per month. In addition, a security deposit of $400 will be paid at the execution of this lease agreement.
WHEREAS, Riverfront Playhouse had been allowed to continue their operations while lease negotiations were on-going. This agreed upon lease will be effective beginning on July 1st, 2014.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: the Commercial Lease Agreement with Riverfront Playhouse for the commercial space located at 13 S. Water St. is hereby approved.