Item Coversheet

4.A.


Shakopee Economic Development Authority
July 2, 2024

FROM: Michael Kerski, Planning/Development Director 
TO:President and Board Members
Subject:
One year extension for Concrete Mobility at River City Centre
Policy/Action Requested:
Approve a one year lease extension for Concrete Mobility and authorize the President and Executive Director to execute the necessary documents to extend the lease from July 1, 2024 to June 30, 2025.
Recommendation:
Approve lease extension.
Discussion:

Concrete Mobility has been a long term tenant of River City Centre occupying the former bank space on the western end.  

 

Their current lease is $18.91 per square foot or $4,000 a month and that will continue for the next one year extension for an annual lease amount of $48,000.

 

The new lease extension will be from July 1, 2024 until June 30, 2025 at $4,000 per month.

Budget Impact: