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 City of Hermosa Beach --- 05-11-99
PARKING STRUCTURE RETAIL GROUND LEASE - SET SPECIAL MEETING DATE OF THURSDAY, JUNE 3, 1999
Recommendation:
That the City Council set a special meeting to review the three proposals received from developers for the ground lease. The suggested date is Thursday, June 3, 1999.
Background:
As a result of the RFP, the City received three proposals to ground lease the area in front of the parking structure. Staff has reviewed and met with each of the groups and gone through each of the proposals submitted. In addition, an appraisal will be completed prior to your review which will provide further information on the value of the ground lease and rent that should be charged.
In order to allow time to review each proposal, I would suggest a special meeting to review the three proposals and hear from each team.
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