TITLE
Recommendation to authorize City Manager to execute any and all documents necessary for a lease with Art Exchange Visual Arts Center, Inc., a California nonprofit corporation, for commercial office space at 340, 352, and 356 East 3rd Street. (District 2)
DISCUSSION
The City is the owner of commercial property located at 340-356 East 3rd Street (Subject Property). The Subject Property is located within the East Village Arts District at the corner of 3rd Street and Elm Avenue (near the former Acres of Books) and contains six suites, comprising approximately 7,880 total square feet (Attachment). One of the suites (Suite 340) contains approximately 1,250 square feet and is currently leased by the Art Exchange Visual Arts Center, Inc. (Art Exchange), a nonprofit corporation, for use as office and storage space. The existing Iease is month-to-month and may be terminated by either party upon thirty (30) day's written notice. The remaining square footage of the Subject Property is currently vacant.
In addition to providing professional art training, Art Exchange offers after-school programs and summer workshops in graphic and visual arts to disadvantaged and physically challenged children and youth. Both the City and Art Exchange wish to further activate this space in the East Village Arts District by making the aforementioned programs available at the Subject Property. As such, City staff proposes to enter into a new lease (Lease) with Art Exchange for Suite 340 and two additional suites (Suite 352 and Suite 356) to consolidate its operations into one central location.
The proposed Lease contains the following major terms and provisions:
· Landlord: City of Long Beach.
· Tenant: Art Exchange Visual Arts Center, Inc" a California nonprofit corporation,
· Premises: 340, 352, and 356 East 3rd Street, consisting of approximately 4,750 square feet of commercial office space.
· Use: The Premises shall be utilized for offices, storage, workshops, galleries and ...
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