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<br />6.1D <br />190+ SF is leased through the RDA and the space surrounding it is subject to a license Page 2 <br />agreement with the City.) <br /> <br />Daily Boost, LLC <br />In November 2007, the Agency Board and City Council approved a Lease and License <br />Agreement for Daily Boost LLC to occupy a kiosk in Courthouse Square to sell coffee <br />beverages, smoothies, pastries, and breakfast sandwiches. Daily Boost has requested <br />a modification to its terms of payment and hours of operation in order to continue to <br />serve Redwood City residents, downtown employees and visitors. The key proposed <br />modifications to the Lease and License are as follows: <br /> <br />Lease Agreement RDA) <br />Term Current Proposed <br />Hours of Every day, 1. March through September, minimum 11 <br />operation minimum 11 am am to 7 pm on weekdays <br /> to 7 pm; closed or 2. October through February, minimum 11 am <br /> reduced hours to 5 pm on weekdays <br /> during federal 3. Closed or reduced hours on weekends and <br /> holidavs federal holidavs <br />Monthly rent $3.00/SF - No change <br /> . $573/month <br />Rent due date 5th of each month 15th of each month <br />Amendments to All terms may be Authorize Executive Director or his/her <br />the Lease amended designee to amend monthly rents and hours of <br /> between the operation administratively <br /> Agency and the <br /> Lessee <br /> <br />$.06/SF - <br />$81.60/month <br />5th of each month <br />All terms may be <br />amended <br />between the City <br />and the Lessee <br />*Common Area Maintenance (CAM) - This is a fee that each tenant pays toward the <br />maintenance of the entire Square. <br /> <br /> <br />Rent due date <br />Amendments to <br />the License <br /> <br />Pro osed <br />$0 from October 2008 to June 30,2009, then <br />$600 er month <br />No change <br /> <br />15th of each month <br />Authorize City Manager or his/her designee to <br />negotiate and administratively amend the <br />monthly rents <br /> <br />Daily Boost is striving to sustain its presence at Courthouse Square but the current <br />market conditions, delays in the store opening, cold weather, vacant kiosks, minimal <br />time to build a customer base, and less than projected sales have resulted in the <br />business not achieving its targeted revenues. The staff would like to keep Daily Boost <br />as a tenant of Courthouse Square pending Board and Council approval of the proposed <br />amendments. <br />