Item:
Title
Update on the Retail Leasing Plan for Admin Building II (45mins)
Body
Date of BOCC Meeting: June 4, 2018
Request for Board Action:
Agenda Text
The Board is requested to receive the Admin II retail plan update and endorse the Guiding Principles and Request for Qualifications and Proposal (RFQ/P) leasing process for the Admin II retail component so that work can timely proceed. The County is in the process of renovating the Administration Building at 201 E Main Street, with Board direction on the programming and conceptual design given in August 2015, with multiple updates since then. This renovation includes two 3,000 square foot retail spaces on the first floor of the building that will be leased to private retail businesses for operating restaurants and activating the streetscape along this stretch of Main Street.
The Board has provided past feedback on its desire for the type of potential tenant, and there are additional financial considerations the County needs to factor in to achieve the best tenant fit for these highly visible spaces. The process of securing tenants that will help the County achieve these objectives is best assisted by a set of Guiding Principles that spells out the County's objectives for the new restaurant spaces, including: activation of East Main Street, strong business plans and solid financials, diverse and small business participation, quality options at affordable prices and uniqueness. These guiding principles are further explained in the attached memo.
Since the County seeks to achieve additional community goals spelled out in the Guiding Principles that are not typically considered in a standard leasing scenario, the County will secure restaurant tenants through a two-step RFQ/P process rather than traditional leasing with a broker. The RFQ/P process will include the input of Downtown Durham Inc (DDI) and the MSH Consultant Group, a restaurant consulting firm retained to assist the County. Potential re...
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