Title
Ground Lease of City-owned Property on Central Avenue to CSA/SE LLC
Action
Action:
A. Adopt a resolution approving the ground lease of 17.72 acres of city-owned property on the Eastside Parcel of Eastland Yards on Central Avenue (portions of parcel identification numbers 103-041-99 and 103-041-08) to CSA/SE LLC, and
B. Authorize the City Manager, or his designee, to negotiate and execute all documents necessary to complete the lease of the property.
Body
Staff Resource(s):
Shahid Rana, Economic Development
Todd DeLong, Economic Development
Explanation
§ CSA/SE LLC desires to lease approximately 17.72 acres of city-owned land located on the Eastside Parcel of Eastland Yards for purposes of operating a soccer field complex for amateur sports activities, community events, and entertainment events.
§ The key terms for the Ground Lease are as follows:
- Lease term of 50 years with the option to renew for one additional period of 25 years;
- Lessee shall pay $1.00 base rent per lease year;
- The base rent increases to fair market value if the lessee fails to meet obligations related to amateur sport events on the property; and
- Lessee will construct six full soccer fields, which will be complete no later than June 30, 2028.
Background
§ On August 28, 2023, City Council directed staff to collaborate with the two proposing development teams to determine if their visions can be combined to deliver an elevated multi-use amateur sports campus on the eastern portion of the Eastland Yards redevelopment.
§ During the September 9, 2024, and October 3, 2024, City Council Business Meetings, City Council approved up to $18.994 million to support public infrastructure improvements on the property and up to $22.334 million to support the construction of indoor and outdoor amateur sports facilities.
§ On March 6, 2026, the Eastland Sports Campus held a groundbreaking ceremony on the property to initiate the infrastructure work associated with the sports campus.
Fiscal Note
Funding: Proceeds from the lease will be deposited in the Neighborhood Development Grants fund
Attachments
Attachment(s)
Map
Resolution