TITLE
Recommendation to authorize City Manager, or designee, to execute any and all documents necessary for an Amended and Restated Lease with Art Exchange Visual Arts Center, Inc., a California nonprofit corporation, for commercial office space at 340-356 East 3rd Street. (District 2)
DISCUSSION
The City of Long Beach is the owner of a 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 is comprised of four contiguous buildings with addresses of 340-342 East 3rd Street (Building 1), 344-346 East 3rd Street (Building 2), 348-350 East 3rd Street (Building 3) and 352-356 East 3rd Street (Building 4) totaling approximately 7,880 total square feet. Currently, Buildings 1 and 4, and five parking spaces adjoining Building 4, are leased to the Art Exchange Visual Arts Center, Inc. (Lessee).
The Lessee currently utilizes the Subject Property for various community service- oriented uses including, professional art development, training, and programs and workshop space, and office/storage space. A broad sector of the community is served at the Subject Property including senior citizens, economically-challenged students, California State University, Long Beach, and Long Beach City College art students, physically/mentally-challenged children, and other groups. Over the past year, the Lessee has offered art-related programs and exhibit opportunities to over 2,000 people. The Lessee has expressed an interest in amending the Lease to include Buildings 2 and 3 and the balance of the parking lot, which would allow for the Lessee to expand classroom programming at the Subject Property. As such, City staff proposes to enter into an Amended and Restated Lease with the Lessee to encompass Buildings 1 through 4 as well as the adjacent parking lot (Attachment).
The proposed Amended and Restated Lea...
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