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TO: Mayor Thomas J. Weisner
FROM: Chuck Nelson, Director of Neighborhood Standards
DATE: June 9, 2016
SUBJECT:
A Resolution authorizing the City of Aurora to enter into a new Commercial Lease Agreement with Rocktown Adventures, LLC, for the City Owned building located at 107 Spruce Street.
PURPOSE:
Resolution authorizing the City of Aurora to enter into a new Commercial Lease Agreement with Rocktown Adventures, LLC, for the City Owned building located at 107 Spruce 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 or in the event of a new lease, for review and approval.
The City originally entered into a lease agreement with Walter Loos d/b/a Paddle and Trail for this space back in 2011. The space is approximately 1,600 sq. ft. and is used as a retail space. During the course of the previous lease agreement, Paddle and Trail underwent a transition and became Rocktown Adventures, LLC.
DISCUSSION:
The lease agreement is for a three year term and can be renewed if mutually agreed by the City and tenant. The monthly rent for this space is $510 per month. In addition, a security deposit of $510 will be paid at the execution of this lease agreement.
IMPACT STATEMENT:
The approval of this lease agreement would allow for Rocktown Adventures to continue operating their retail business in a space that would otherwise sit vacant.
RECOMMENDATIONS:
To approve Commercial Lease agreement for the space at 107 Spruce St. at the June 14th Finance Committee meeting.
cc: Alderman O'Connor, Chairman
Alderman Mervine
Alderman Bohman
Alderman Mesiacos, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution authorizing the City of Aurora to enter into a new Commercial Lease Agreement with Rocktown Adventures LLC for the City Owned bu...
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