The Chamber has been exploring ways to receive additional visibility in the community and also provide better access to the Main Street program that serves downtown.

Staff worked with the Chamber staff and the Chamber Board on a possible location.  The proposed space is vacant and was last occupied by an insurance agency in 2022.  The lease terms are as follows:

Lease Term: Five years starting May 1, 2023 with option to renew for an additional five years at CPI increases.

Space: Suite 145 which is approximately 1,470 sf.

Gross Rental Rate: 

April 2023-March 2024 - A gross rental rate of $13.00 sf or $1,600 a month
April 2024-March 2025 - A gross rental rate of $13.50 sf or $1,650 a month
April 2024-March 2025 - A gross rental rate of $13.50 sf or $1,650 a month
April 2024-March 2025 - A gross rental rate of $14.00 sf or $1,715 a month
April 2024-March 2025 - A gross rental rate of $14.00 sf or $1,715 a month

Improvements: Carpet to be professional cleaned and space painted a color that the EDA and Chamber mutually agree to. 

Utilities: Tenant to pay for electrical, water and natural gas usages.

Taxes: EDA pays all property taxes

Maintenance: EDA removes snow and maintains furnace and plumbing.

Termination clause:  Should the city of Shakopee/EDA build the Innovation Hub, the EDA and the Chamber may terminate this agreement to allow the Chamber to relocate into the Innovation Hub.

Helmuth & Johnson, the EDA's attorney's for River City Centre are drafting a lease per the above terms.  The Chamber's Board approved entering into the lease at its March Board Meeting.

The Chamber will relocate from the structure that it currently owns in Memorial Park on land leased from the city.  The Chamber will quit claim the existing Chamber building to the city. 

Once the Chamber removes its items from their existing building, the city will solicit demolition bids for this fall and bring those back to the city council for approval.