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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A FIRST AMENDMENT TO THE LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND DUC POMPANO, LLC FOR THE PROPERTY LOCATED AT 113 NE 1ST AVENUE; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Cassandra LeMasurier)
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Summary Explanation/Background:
The City and Lessee entered into a 10 year lease with four (4) additional 10 year renewal terms for the property located at 113 NE 1st Avenue, Pompano Beach, FL effective date October 14, 2019 approved by City Commission with Resolution 2020-11. The Lessee is completing renovations of the old bank building for use as a restaurant and leased the City’s property to develop and use as outdoor seating for the restaurant. The Lessee agreed to spend $38,400.00 in capital improvements including replacing existing landscaping and pavers and installing benches, tables and/or chairs, lighting, pavers, irrigation, security cameras, a gazebo or other similar structure and fencing and electrical upgrades, as needed. The lease required 50% of the improvements be completed by October 14, 2021 with the remaining improvements completed by no later than October 14, 2023. The Lessee has requested a two (2) year extension to complete 50% of the capital improvements due to delays in developing the restaurant due to COVID-19. The first amendment of the lease will allow an additional two (years) to complete the 50% capital improvements with all capital improvements to be completed by no later than October 14, 2023.
Origin of request for this action: Staff
Fiscal impact and source of funding: N/A
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