DATE: March 19, 2024
TO: Mayor and City Council
FROM: Director of Public Works
SUBJECT
Title
Adopt a Resolution Authorizing the City Manager to Negotiate and Execute a Ground Lease with Raja Indian Cuisine for Property at 1275 West Winton Avenue
End
RECOMMENDATION
Recommendation
That the City Council adopts a resolution (Attachment II) authorizing the City Manager to negotiate and execute a ground lease with Raja Indian Cuisine.
End
SUMMARY
Raja entered into an assignment in 2002 for the leasehold previously held by Manzella’s Seafood Loft after the latter decided to sell their leasehold interest. The restaurant is located at 1275 West Winton Avenue and encompasses 60,437 square feet.
The current lease agreement expired in January 2023 and the tenants are currently paying rent on a month-to-month basis as a tenant holding over. However, the principals of the restaurant desire to enter into a new lease agreement with the following deal points:
• Thirty-five-year lease term
• A rent increase to $5,540.06 per month
• Significant interior and exterior capital improvements totaling approximately $1 million
Council Airport Committee Review
This item was initially presented to the Council Airport Committee (CAC) during their June 24, 2022 meeting. After review, the Committee suggested changes to the building façade and landscaping plan, commensurate with other improvements planned for the West Winton corridor near the Airport. Those changes were incorporated into the design and reviewed by the CAC at their October 27, 2022 meeting.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III Location Map
Attachment IV Renderings