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CC- CONSENT ITEM: (1) Approval of the Transfer of the Existing Lease Agreement for 9240 Culver Boulevard to Gentani Aper Sushi, dba The Brother's Sushi; and (2) Approval of an Assignment and Assumption Agreement and Other Related Documents to Effectuate the Transfer.
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Meeting Date: October 9, 2023
Contact Person/Dept: Elizabeth Garcia / Office of Economic and Cultural Development
Phone Number: (310) 253-5708
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Attachments: Yes [x] No []
Commission Action Required: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (10/03/2023)
Department Approval: Jesse Mays, Assistant City Manager (09/26/2023)
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RECOMMENDATION
Staff recommends the City Council (1) approve the transfer of the existing lease agreement for 9240 Culver Boulevard to Gentani Aper Sushi, dba The Brother's Sushi, until March 1, 2027; and (2) approve an assignment and assumption agreement and other related documents to effectuate the transfer.
BACKGROUND
In 2010, Keizo and Yuki Ishiba entered into a lease agreement with the former Culver City Redevelopment Agency to operate the restaurant K-ZO in the commercial space located in the City's Ince Parking Structure at 9240 Culver Boulevard. The term of the agreement was seven years, with two five-year extension options. Mr. and Mrs. Ishiba have exercised both options and the current lease is scheduled to expire on March 1, 2027. The lease agreement does not provide extension provisions beyond March 2027. The monthly rental amount is $6,569.41 per month, with an annual CPI increase capped at 3%.
DISCUSSION
On December 14, 2022, Mrs. Ishiba submitted a request to transfer the existing Lease Agreement to a new operator due to extraordinary health issues. The proposal, however, was withdrawn by the new operator due to challenges wit...
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