From
Megan Mahan
Title
First Amendment to Restaurant Lease with Firehouse GastoPark, LLC for temporary rent reduction and COVID-19 rent abatement at FireHouse Gastro Park
Presenter
Megan Mahan, City Attorney
Recommended Action
Approve
Analysis
Tenant paid an extra $17,000 for construction costs during that were not part of their contractual obligations. They have asked that, for the period of December 1, 2019 through March 30, 2020 the rent be reduced to $2,000 per month ($8,000 total), and that they receive a rent credit during this time period for those construction amounts previously paid.
Additionally, due to the effects of governmental orders and declarations in connection with the COVID-19 pandemic, the lessees' ability to operate and generate income as anticipated under the lease has been restricted. The proposed amendment will grant a temporary rent abatement beginning April 1, 2020 until normal operations can be resumed.