TITLE
Recommendation to authorize City Manager, or designee, to execute all documents necessary for a Lease with LINC-Palace Hotel Apartments Housing Investors, L.P., a California limited partnership (Landlord), for use of the retail suite at 2640 East Anaheim Street. (District 4)
DISCUSSION
LINC-Palace Hotel Apartments Housing Investors, L.P. (LINC), operates and manages an affordable housing facility for transition-aged youth at 2640 East Anaheim Street, known as the Palace Hotel (Attachment A). The building is owned by Long Beach Community Investment Company (LBCIC) and leased to LINC through a long-term ground lease executed on May 28, 2010 and expiring on July 1, 2085.
The LINC Palace Hotel facility includes 14 studio apartments, a community room, counseling rooms, and an approximately 1,000-square-foot retail suite. The retail suite has remained vacant since the facility opened, and is used occasionally by LINC for programming for the residents, such as yoga classes and a food bank. LINC is interested in leasing the retail space to a business owner and operator who will provide a benefit to the residents and surrounding community.
The Economic Development Department is interested in leasing and operating the retail space as a pop-up retail establishment that would be programmed regularly through the Workforce and Business Development Bureaus. The pop-up would be designed as a flexible space and would serve as an incubator for local business owners who want to eventually locate in a brick and mortar location and/or want to increase brand awareness in Long Beach. Economic Development staff would oversee the operations, program the pop-ups, provide guidance and technical assistance to business owners, provide workforce training opportunities for LINC facility residents, and work to ensure the project is beneficial to the community. When the suite is not being used for pop-ups, the Workforce Bureau would have the ability to hold youth training at this ...
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