Sponsor: Property Management
Title
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Lease Agreement with Story Line Books, LLC for Retail Space at Union Depot
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Recommendation
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1. Approve the lease agreement with Story Line Books, LLC, 3851 D Street, Lincoln, NE 68510, for space at Union Depot, 214 East 4th Street, Saint Paul, MN, Suite 160, for the period from September 1, 2024 through August 31, 2027, for the total amount of $63,400, with two one-year renewal options at an increased rate.
2. Authorize the Chair to execute the lease agreement.
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Background and Rationale
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With the recent leases to Choo Choo Bob’s Train Store and Lake Elmo Inn, only one retail space remains. Story Line Books, LLC will be leasing this last retail space and will be a great addition for Union Depot. It is great timing with the recent addition of more public transit routes to the Union Depot including the Borealis and Flix Bus. Story Line Books will provide printed books, magazines, newspapers, and more to the public and passengers as they wait for their transportation helps boost overall guest satisfaction.
Property Management recommends approval of the bookstore lease at Union Depot. It is an excellent option to provide all who visit an opportunity to pass time by reading.
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County Goals (Check those advanced by Action)
☐ Well-being ☐ Prosperity ☒ Opportunity ☐ Accountability
Racial Equity Impact
The racial equity impact of the lease is unknown.
Community Participation Level and Impact
There is no community engagement for this lease agreement.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The terms of the lease include 1,400 square feet of space for three years. The $63,000 in additional revenue is not included in the 2024-2025 Union Depot operating budget. Revenue and expenditure budget will be adjusted.
Last Previous Action
None.
Attachments
1. Lease Agreement