Guarantee a very long term lease or they take the building, pilings and pagers and leave. My feelings are that 50 year leases are OK if the business remains the same. Any new owners or name changes should end the lease and require a cancellation fee.
Recently Shake requested a demolition permit to tear down the building when its lease expires in summer 2021.
“For five years we have been requesting for the city to extend Chris’s lease,” said Tony Lombardo, the attorney representing Shake.
“The Grotto has been a tenant since 1959 — it’s the best tenant the city has. They pay the city far more than market value while Shake’s business generates one-third of the income the city gets from the wharf.”
Lombardo noted that Shake currently pays the city $250,000 per year to essentially rent a 4,000-square-foot property. The Shake family has always owned the building and the pilings underneath it and has been fully responsible for its maintenance, Lombardo said.