Title
Lease to Charlotte Bridge Association - Latta Recreation Center
Action
ACTION:
Adopt a resolution titled “Mecklenburg County Board of Commissioners Resolution Authorizing the Lease of Property at 501 East Park Avenue in Charlotte, NC (Latta Recreation Center) to Charlotte Bridge Association, Inc.”
Staff Contact: Cherelle Capers, Real Estate Coordinator
Presentation: No
BACKGROUND/JUSTIFICATION:
Charlotte Bridge Association, Inc. (the "CLUB") is currently leasing the Latta Recreation Center (the “Center”) from the County. The Center is located at 510 East Park Avenue in the Dilworth neighborhood of Charlotte. The CLUB uses the recreation center to host bridge games as well as other programs and events allowed by the County. The Center is open to the public for any other County allowed or hosted activities and events. The CLUB has requested a new lease with an expiration date of July 1, 2029. Park and Rec as well as AFM has determined the building will not be needed by the County during the term of the agreement. The following are the proposed major business terms between the County and the Club.
Proposed Major Business Terms:
Location - 510 East Park Avenue Charlotte, NC (Tax Parcel 123-085-13)
Lease Term - Three (3) years, with an expiration date of July 1, 2029
Renewal Option - Tenant shall have two (2) one (1) year option to renew.
Base Rent - $4.22/SF (or $38,000 annually)
Services - Tenant is responsible for the payment of utilities, janitorial and routine maintenance.
Insurance - Tenant required to maintain Commercial General Liability, Automobile and Worker’s Compensation Insurance
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
N/A