Item Description:
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Consent to and Assignment of Lease granting J & L Development, LLC permission to assign Lease Agmt A2211471 to RLP 3, LLC for rental of HCRRA property in Shorewood and Tonka Bay, 12/01/22-11/30/27
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Resolution:
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BE IT RESOLVED, that the Consent to and Assignment of Lease be approved granting J & L Development, LLC permission to assign Lease Agreement A2211471 to RLP 3, LLC for rental of 6,453 square feet of Hennepin County Regional Railroad Authority (HCRRA) property located east of County State Aid Highway (CSAH) 19 (Manitou Road) in Shorewood and Tonka Bay, during the period of December 1, 2022 through November 30, 2027, in the receivable amount of $4,286 per year for the first three years with a rate adjustment beginning in the fourth year; and that following the review and approval by the County Attorney's Office, the Chair be authorized to sign the Consent to and Assignment of Lease on behalf of the Authority; and that the Controller be authorized to accept the funds as directed.
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Background:
HCRRA has leased 6,453 square feet on the north side of the HCRRA's Hopkins to Victoria corridor east of CSAH 19 (Manitou Road) in Shorewood and Tonka Bay to J & L Development, LLC since 1987 for access to the company's storage areas and buildings. J & L Development recently sold the property to RLP 3, LLC and wishes to assign the lease to the new owner.
Consistent with HCRRA's Land Use Management Plan, Section IV, Subsection C - Use of Property, the proposed Consent to and Assignment of Lease grants J & L Development, LLC permission to assign Lease Agreement A2211471 to RLP 3, LLC for rental of this HCRRA property and permits RLP 3, LLC to accept the assignment. Either party may terminate the lease by giving a 30-day written notice.
Current Request: This request is for authorization to approve the Consent to and Assignment of Lease permitting J & L Development, LLC permission to assign Lease Agreement A2211471 to RLP 3, LL...
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