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TO: Mayor Richard C. Irvin
FROM: Patrick J. Collins, Assistant Corporation Counsel
DATE: February 12, 2024
SUBJECT:
A Resolution Authorizing the Approval and Execution of a Lease Agreement between the City of Aurora and Mark Radina & Archetype Stained Glass for the Lease of Office Space and Art Studio of a City-owned Building located at 7 South Broadway, Aurora, Illinois 60505.
PURPOSE:
The purpose of this request is to fill a currently partially vacant building owned by the City of Aurora.
BACKGROUND:
Mark Radina & Archetype Stained Glass was a sub-tenant for 3-plus years of the City's previous tenant, Gary Brown. Since Gary Brown terminated his lease with the City, Mark Radina & Archetype Stained Glass have been a holdover tenant. This lease solidifies the good working relationship the City has with Mr. Radina & Archetype Stained Glass.
DISCUSSION:
The proposed lease has a month-to-month term and affords the City and Mark Radina & Archetype Stained Glass the desired flexibility. Rent will be $400 per month, along with Special Service Area contributions and real estate taxes.
IMPACT STATEMENT:
Approval of this resolution will provide a modest source of revenue and have the ancillary benefit of creating a positive impact on the downtown and community by bringing new businesses, people and opportunities.
RECOMMENDATIONS:
It is recommended that the lease between the City of Aurora and Mark Radina & Archetype Stained Glass for the city-owned property located at 7 South Broadway be approved.
cc: Finance Committee
Alderman Carl Franco, Chairperson
Alderman Edward J. Bugg, Vice Chairperson
Alderman Ron Woerman
Alderwoman Shweta Baid
Alderman Brandon Tolliver
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution Authorizing the Execution of a Lease Agreement with Mark Radina & Archetype Stained Glass for the Lease of Office Space and Art Studio at 7 South Broadway in Au...
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