TO: Urban Renewal Agency Board
THROUGH: Steve Powers, Executive Director
FROM: Kristin Retherford, Urban Development Dept. Director
SUBJECT:
title
Retail lease for Agency-owned property located at 311 Commercial Street NE.
Ward(s): 1
Board Member(s): Kaser
Neighborhood(s): CANDO
Result Area(s): Good Governance; Welcoming and Livable Community.
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ISSUE:
Shall the Urban Renewal Agency authorize the Executive Director to execute the attached lease for retail property with the City of Salem?
RECOMMENDATION:
recommendation
Authorize the Executive Director to execute the attached lease for retail property with the City of Salem.
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SUMMARY:
The Salem Public Library needs space for artisans to rehabilitate its miniature doll house. The space is vacant.
FACTS AND FINDINGS:
Key terms of the Lease are below.
Term: 7 ½ months, November 15, 2020 - June 30, 2021
Lease Rate: No cost.
Square Feet: 208
BACKGROUND:
In March 2019, the Agency acquired property in the 300 block of Commercial Street NE for future redevelopment. The property was acquired using Riverfront-Downtown Urban Renewal funds. The property is scheduled for redevelopment in July 2021.
Clint Dameron
Real Property Services Manager
Attachments:
1. Proposed Lease