Item Description:
title
Consent and Subordination and Subordination to Environmental Covenant and Easement document related to Lease Agmt A142072 with 800 West Broadway, LLC for NorthPoint Health and Wellness Center, no change to lease term
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Resolution:
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BE IT RESOLVED, that the Consent and Subordination to Environmental Covenant and Easement related to county Lease Agreement A142072 with 800 West Broadway, LLC for leased property located at 800 West Broadway, Minneapolis, be approved; and that the Chair of the Board be authorized to sign the Environmental Covenant and Easement on behalf of the county.
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Background:
Resolution 15-0127 authorized Lease Agreement A142072 with 800 West Broadway, LLC, (Landlord) for 2,748 square feet of office space located at 800 West Broadway, Minneapolis (Property) for use by NorthPoint Health and Wellness Center. The Landlord previously renovated and completed environmental remediation activities on the Property, including the installation of a vapor mitigation system. The Minnesota Pollution Control Agency (MPCA) requires an Environmental Covenant and Easement (“Covenant”) to be recorded on the Property as an administrative measure to establish ongoing maintenance and operating requirements for the mitigation system. MPCA requires that all current tenants of the building execute a consent and subordination to the Covenant.
The Covenant will not change any terms of the county lease.
Current Request: Approval of the Consent and Subordination to Environmental Covenant and Easement related to Lease Agreement A142072 with 800 West Broadway, LLC for NorthPoint Health and Wellness Center is requested.
Impact/Outcomes: Approval of the Consent and Subordination to Environmental Covenant and Easement will not change the terms to Lease Agreement A142072 or impact operations for NorthPoint Health and Wellness Center at 800 West Broadway, Minneapolis.
recommendation
Recommendation from County Administrator: Recommend Approval