Discussions for long-term leases for the CREATIVE ALLIANCE are divided into two classes:
- Makers Square facilities
- All other “Class D” facilities
The reason for this is that the Makers Square spaces are new, and will include monthly rent obligations in addition to annual maintenance. As of 2/14/22, discussions are for Centrum to manage Building 305 (main and top floors only; KPTZ leases most of the basement), and the Northwind Art to manage buildings 308 and 324. PDA may want only one entity to sign the lease for Makers Square due to the LLCs, Foundation, and Banking complications. If so, Centrum will sign the lease and sublet to Northwind. If not, Centrum will sign the lease for 305 and Northwind for 308 and 324.
The non-renovated “Class D” spaces–which includes 315, Copper Canyon, Centrum/Corvidae, Madrona, 306, 304, and Centrum cabins/office/storage, are planned to be granted with no rent due, but in exchange for this, tenants will assume responsibility for maintenance and capital improvements over the next 25 years. This concept is based on the MENG Analysis work which has been shared with all of you for your facilities. PDA askes that individual tenants sign their own leases for Class D facilities.
THIS IS A SUMMARY COMPARISON OF THE TERMS FOR BOTH SETS OF FACILITIES.
The following documents are DISCUSSION DRAFTS.
CLASS D DOCUMENTS
Lease Administration Fee Proposal
MAKERS SQUARE DOCUMENTS
Makers Square General Terms Draft