Sponsor: Property Management
Title
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Lease Agreement with The Hertz Corporation for Retail Space at Union Depot
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Recommendation
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1. Approve the lease agreement with The Hertz Corporation, 8501 Williams Road, Estero, Florida 33928, for 434 square feet of space and a license area in Union Depot, 214 East 4th Street, Saint Paul, MN 55101, Suite K090, for the period from November 1, 2025 through October 31, 2028, for the total amount of $50,480, with two additional three-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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The Hertz Corporation (Hertz) is a tenant at the Union Depot serving the daily passengers, visitors, and the residents of Ramsey County with the opportunity for rental car transportation needs. Hertz has been a tenant since 2016 with the current lease expiring October 31, 2025.
The Ramsey County Regional Railroad Authority (RCRRA) operates Union Depot as a multi-modal transit and transportation hub with space for transit and transportation providers, a bike center, and a limited amount of retail. A new lease has been negotiated with The Hertz Corporation to provide rental car transportation options.
Property Management recommends approval of a new three-year lease with The Hertz Corporation.
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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 434 square feet of space for three years. The 2025 revenue of $2,723 is accounted for in the Union Depot operating budget. The remaining substantial lease years revenue of $47,757 is proposed in the future 2026, 2027, and 2028 budget.
Last Previous Action
On February 9, 2021, the Ramsey County Regional Railroad Authority approved the Second Amendment to the Lease Agreement with The Hertz Corporation for space at Union Depot (Resolution R2021-007).
Attachments
1. Lease Agreement