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Date |
May 22, 2006 |
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Agenda Item No. 32 Roll Call No. 06- Communication No. 06-292 Submitted by: Donald M. Tripp, Park and Recreation Director |
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AGENDA HEADING:
Approval of Assignment of Sidewalk Café Lease Agreement for Johnny’s Hall of Fame Lounge at 302 Court Avenue.
SYNOPSIS:
Recommend approval of the Assignment of the Sidewalk Café Lease from J.H.F. Inc a/k/a Hall of Fame Inc. by Frances J. Ulrich, President (Assignor) to HFL, LLC (Assignee) by Hubbell Realty Company, Manager.
FISCAL IMPACT:
Amount: $493.50 annual lease revenue.
Funding Source: Lease revenues are deposited into the Property Maintenance Endowment Fund, SP767, PKS161625.
ADDITIONAL INFORMATION:
On May 23, 2005, by Roll Call No. 05-1291, the City of Des Moines entered into a less than three-year Sidewalk Café Lease Agreement with JHF Corp., dba Johnny’s on Court, for a sidewalk café adjacent to its business at 302 Court Avenue. HFL, LLC acquired the real estate used by Johnny’s Hall of Fame Lounge from J.H.F. Inc and the business from Hall of Fame Inc. and has started operation at 302 Court Avenue, effective May 1, 2006. In accordance with the terms and conditions of the existing lease, City Council must grant approval before assignment of the lease to HFL, LLC. All other terms and conditions remain the same.
PREVIOUS COUNCIL ACTION(S):
Date: May 23, 2005
Roll Call Number: 05-1291
Action: Sidewalk Café Lease Agreement with JHF Corp. dba Johnny’s on Court, 302 Court Ave. (Council Communication No. 05-290) Moved by Hensley to adopt. Motion Carried 7-0.
BOARD/COMMISSION ACTION(S): NONE
Date:
Roll Call Number:
Action:
ANTICIPATED ACTIONS AND FUTURE COMMITMENTS: NONE