Shipwrecked Vending, LLC has requested the City Commission consider leasing space located at 146 W. Washington Street, commonly known as the Phil Niemisto Pocket Park as shown in Exhibit A, attached. The space within the stair tower will be used for the installation and operation of a vending machine unit.

Staff has worked with the Downtown Development Authority, City Attorney and Shipwrecked Vending, LLC to draft a standard lease agreement which provides for the terms and conditions of the request. The lease is a two-year term, from July 15, 2025 through July 14, 2027. The rental rate was set at $500 per year, payment due by July 15, 2025, and by July 15 annually thereafter during the lease term.

The City Charter requires all lease agreements to have two reads. This is the first read of this item.

The Downtown Development Authority will receive $500 annually during the term of the lease agreement.

Move the lease agreement with Shipwrecked Vending, LLC for leased space located at 146 W. Washington Street, commonly known as the Phil Niemisto Pocket Park to the next regular meeting.