Approval of Lease Amendment for Thrift City Margate

Original title: APPROVING THE FIRST AMENDMENT TO THE BUSINESS LEASE BETWEEN THE MARGATE COMMUNITY REDEVELOPMENT AGENCY AND THRIFT CITY MARGATE, LLC

Record date · September 14, 2022

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What This Bill Does

This approves a first amendment to an existing business lease agreement between the Margate and Thrift City Margate, LLC.

Why it matters

This action modifies the legal terms of a commercial lease agreement between a city agency and a private business, which dictates the operational requirements and financial obligations for the property involved.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Margate Community Redevelopment Agency

The agency is a signatory to the lease and is legally bound by the terms of the amendment.

Directly affected

Thrift City Margate, LLC

The business is a signatory to the lease and is subject to the modified terms of the agreement.

Key Facts

The resolution approves the 'First Amendment' to a business lease agreement.
The parties involved are the Margate Community Redevelopment Agency and Thrift City Margate, LLC.
The file identification number for this legislative action is 2022-383.
The resolution was formally introduced on September 7, 2022.