Title
Lease of City-Owned Property on Seigle Avenue
Action
Action:
A. Adopt a resolution approving a lease agreement with Envision Charlotte for the lease of city-owned property at 932 Seigle Avenue (parcel identification number 081-115-01) and the adjacent parking lot at 1100 Otts Street (parcel identification number 081-114-53), and
B. Authorize the City Manager to negotiate and execute all documents necessary to complete this transaction and to amend the lease agreement consistent with the intent of the agreement.
Body
Staff Resource(s):
Phil Reiger, General Services
Greg Crawford, General Services
Explanation
§ The city owns approximately 4.5 acres of property, zoned ML-2 (Manufacturing and Logistics - 2), located at 932 Seigle Avenue in Council District 1. This site was formerly known as the city’s Light Vehicle Maintenance Facility and consists of an approximately 36,000 square-foot building, two parking lots, and other improvements.
§ The city also owns approximately 11.1 acres of property across the street, zoned ML-2, located at 1100 Otts Street in Council District 1. This site consists of several parking lots and other improvements.
§ Envision Charlotte (Envision), a 501(c)(3) nonprofit corporation, desires to continue leasing the building and two parking lots at 932 Seigle Avenue and one additional parking lot at 1100 Otts Street, all of which has been leased by Envision since 2018.
§ This lease allows Envision to continue its operations in the improved portion of the building and reserves the city’s right to determine the use of the unimproved portion of the building in the event the city elects to undertake improvement of that space. Until such a determination is made, Envision will be permitted to use the unimproved portion of the building.
§ The lease terms include:
- A five-year initial term, commencing on July 1, 2026;
- Two, two-year renewal options; and
- An annual lease rate of $1.
Background
§ On May 14, 2018, City Council adopted a resolution for a five-year lease agreement with Envision for the use of the city’s property at 932 Seigle Avenue for $1 per year. The current lease expires on June 30, 2026.
§ Since 2018, Envision has operated this space as the Innovation Barn, a dynamic hub focusing on the circular economy implementing programs and incubator projects that aim to keep valuable resources in circulation and out of landfills.
§ The concept of circular economy is one in which resources are used for as long as possible and then recovered and used to generate new products and materials rather than disposal in a landfill.
Attachments
Attachment(s)
Resolution
Map