HomeMy WebLinkAboutminutes.council.20110524 Continued Meeting Aspen City Council May 24, 2011
Mayor Ireland called the meeting to order at 4:30 PM with Councilmembers Skadron, Torre and Johnson
present.
RESOLUTION #36, SERIES OF 2011— Wheeler Restaurant Lease
Scott Miller, asset management, said issues about the lease came up at last night's meeting. He met
with the tenants today to resolve these. The unresolved issues were rent cap; lack of escalator; the
percentage of sales of the lease, and the affordability clause. The rent cap has been removed. The base
rent will have an escalator of 3% or cpi, whichever is greater. Miller told Council instead of starting the
percentage of sales at 8 %, it will start in year 1 at 5% of all sales; year 2 will be 6 %; year 3 will be 7%;
year 4 and every year after that will be 8 %.
The affordability clause has been amended that there will be one representative from the lessee and 3
city representatives. They will study the menu from 5 comparable restaurants, review the menu of
Fiercely Local and compare these so that Fiercely Local remains affordable within a comparable group.
The lease states "results of this review shall be presented to Council annually ".
Councilman Torre moved to adopt Resolution #36, Series of 2011, the lease for wheeler as amended;
seconded by Councilman Johnson. All in favor, motion carried.
Councilman Torre moved to continue the meeting to 5:30 PM; seconded by Councilman Johnson. All in
favor, motion carried.
Mayor Ireland moved to go into executive session at 6:40 PM pursuant to C.R.S. 24- 6- 402(4) (b)
Conferences with an attorney for the local public body for the purposes of receiving legal advice on
specific legal questions and (e) Determining positions relative to matters that may be subject to
negotiations; developing strategy for negotiations; and instructing negotiators; seconded by Councilman
Torre
Councilman Torre moved to come out of executive session at 7 PM; seconded by Councilman Johnson.
All in favor, motion carried.
Councilman Torre moved to adjourn at 7 PM: seconded by Mayor Ireland. All in favor, motion carried.
Kathryn Koch
City Clerk
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