The City Council has on its Agenda on November 16 “lame duck” session (prior to new Council Member Conna McCarthy joining the Council) to vote on a significant cost for the City of Piedmont asset of granting a lease at $1.00 per year to a sub-rental service, when the historical goal was to create a possible $250,000 per year revenue center for the City of Piedmont.
On the Agenda is the lease for the Piedmont Center for the Arts and “sub rental service.” A new 10-year lease for half of the city-owned building at 801 Magnolia Avenue is designed to help rent to the Arts Community, but also simply be a “sub-rental service.”
Just to be clear, a 10-year lease for $1 is possibly worth $1.7 – $2.5 million, over 10 years, of lost revenue opportunity for the City of Piedmont. We believe this contract deserves further analysis and discussion.
A newly elected Piedmont City Council and Finance Advisory Committee and/or the Recreation Department will be able to take time for public input and a look at all options for the use of this building including the continued help to the Arts rather than sub-rental service.
The current friendly lease expires in 7 months leaving a lot of time for best solutions.
Please write to the Mayor and City Council today (CityClerk@piedmont.ca.gov) and ask for delay, analysis and open discussion!