|
Title:
|
Resolution approving Port Commission Lease No. L-17390 with JPPF 1300 Battery, L.P., a limited partnership, for approximately 4,635 square feet of a single-story restaurant space and 2,992 square feet of outdoor dining area located at 1300 Battery Street for a term effective upon approval of this Resolution and expiring on May 5, 2046, for a monthly base rent of $5,000 with a 15% base rent increase every five years, for a total base rent of $1,498,012.50; Percentage Rent of 1% of gross sales, and rent credit of up to $1,568.26 a month for 120 months of actual documented cost of landlord work and tenant improvements; and authorizing the Acting Executive Director of the Port to enter into any additions, amendments or other modifications to the Lease that do not materially increase the obligations or liabilities of the City or the Port and are necessary or advisable to complete the transactions which this Resolution contemplates and effectuate the purpose and intent of this Resolution.
|