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File #: 21-2262    Name:
Type: Consent Item Status: Agenda Ready
File created: 3/30/2021 In control: City Council
On agenda: 4/6/2021 Final action:
Title: ADOPT BY TITLE ONLY RESOLUTION NO. CC-2104-027, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDONDO BEACH, CALIFORNIA, LEASING CERTAIN PROPERTY TO BOARDWALK WORLDWIDE, LLC, DBA THE DINGHY DELI, A LIMITED LIABILITY COMPANY APPROVE A LEASE WITH BOARDWALK WORLDWIDE, LLC, DBA THE DINGHY DELI FOR THE PREMISES AT 160 INTERNATIONAL BOARDWALK FOR A MONTHLY AMOUNT OF $2,050.00 FOR THE TERM APRIL 6, 2021 - APRIL 5, 2026
Attachments: 1. Administrative Report, 2. Resolution No. CC-2104-027 (Dinghy Deli), 3. Lease Between the City of Redondo Beach and Boardwalk Worldwide, LLC dba the Dinghy Deli
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To: MAYOR AND CITY COUNCIL
From: STEPHEN PROUD, WATERFRONT & ECONOMIC DEVELOPMENT DIRECTOR

TITLE
title
ADOPT BY TITLE ONLY RESOLUTION NO. CC-2104-027, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDONDO BEACH, CALIFORNIA, LEASING CERTAIN PROPERTY TO BOARDWALK WORLDWIDE, LLC, DBA THE DINGHY DELI, A LIMITED LIABILITY COMPANY

APPROVE A LEASE WITH BOARDWALK WORLDWIDE, LLC, DBA THE DINGHY DELI FOR THE PREMISES AT 160 INTERNATIONAL BOARDWALK FOR A MONTHLY AMOUNT OF $2,050.00 FOR THE TERM APRIL 6, 2021 - APRIL 5, 2026
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EXECUTIVE SUMMARY
In July 2012, the City purchased the International Boardwalk leasehold and began the process of direct leasing to various tenants. This International Boardwalk is comprised of a narrow linear development of approximately 17,200 square feet that is fronted by a public walkway. The City has negotiated a lease with Boardwalk Worldwide, LLC dba the Dinghy Deli for the space at 160 International Boardwalk, which is approximately 1,000 rentable square feet.

The proposed lease is for a five-year term with the City retaining the option to terminate the lease with a twelve (12) month prior written notice. Rental to the City's Harbor Uplands Fund is the greater of the minimum monthly rent of $2,050.00 or 8% of gross sales. Minimum annual rent is $24,600.00.

BACKGROUND
In July 2012, the City purchased the International Boardwalk leasehold and began the process of entering into direct leases with various tenants. The International Boardwalk is comprised of a very narrow and linear development along the east side of the Redondo Beach Marina - also referred to as Basin III. The approximately 17,200 square feet of space is almost entirely prepared for retail and food and beverage uses.

Boardwalk Worldwide LLC, which operates The Slip at 120 International Boardwalk, is looking to open a new concept - the Dinghy Deli - at 160 International Boardwalk. The Dinghy Deli is a take-out deli/restaurant, which is a concept currentl...

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