To: MAYOR AND CITY COUNCIL
From: STEPHEN PROUD, WATERFRONT & ECONOMIC DEVELOPMENT DIRECTOR
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ADOPT BY TITLE ONLY RESOLUTION NO. CC-2104-031, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDONDO BEACH, CALIFORNIA, LEASING CERTAIN PROPERTY TO TONY TRAN, AN INDIVIDUAL, DBA MINI CHINESE RESTAURANT
APPROVE A LEASE WITH TONY TRAN, AN INDIVIDUAL, DBA MINI CHINESE RESTAURANT FOR THE PREMISES AT 204 FISHERMANS WHARF FOR A MONTHLY AMOUNT OF $1,618.76 FOR THE TERM APRIL 6, 2021 - APRIL 5, 2026
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EXECUTIVE SUMMARY
In 1995, the City purchased the Fisherman's Wharf Leasehold which includes the 200 block of Fisherman's Wharf. The leasehold is comprised of several buildings that total approximately 13,000 square feet of leasable space. The space at 204 Fisherman's Wharf (the "Premises") is approximately 283 square feet and has accommodated a fast-food use for decades. Mini Chinese Restaurant currently operates at the premises and the owners desire to continue their tenancy.
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 Tidelands Fund is the greater of the minimum monthly rent of $1,618.76 or 11% of gross sales. Minimum annual rent is $19,425.12.
BACKGROUND
In 1995, the City purchased the former Redondo Horseshoe Pier Company leasehold containing the buildings from 200 to 250 Fisherman's Wharf on the Redondo Beach Pier. The approximately 13,000 square feet of leasable space is made up of retail, restaurant and entertainment uses.
Mini Chinese Restaurant (the "Tenant") currently operates on the pier and has become a familiar location for fast food since it opened in 1984. Mini Chinese Restaurant was formerly owned by individuals Canny Tran and Tony Tran. Canny Tran is retiring and Tony Tran will continue to operate Mini Chinese as the sole owner. Mini Chinese is a long-standing Fisherman's Wharf tenant in good st...
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