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CC - Approval of Modifications to the Existing Sublease with The Actors' Gang for use of the Ivy Substation.
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Meeting Date: October 25, 2021
Contact Person/Dept: Elaine Warner/Economic Development/CDD
Todd Tipton/ Economic Development/CDD
Phone Number: (310) 253 - 5777
(310) 253 - 5783
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Public Hearing: [] Action Item: [X] Attachments: Yes [X] No []
Commission Action Required: Yes [] No [X] Date:
Commission Name:
Public Notification: (E-Mail) Meetings and Agendas - City Council (10/20/2021); The Actors' Gang, Downtown Business Association (10/11/2021)
Department Approval: Sol Blumenfeld, Community Development Director (10/13/2021)
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RECOMMENDATION
Staff recommends the City Council approve modifications to the existing sublease with The Actors' Gang (TAG) for use of the Ivy Substation.
BACKGROUND
On June 8, 1987, the City of Los Angeles, and former Culver City Redevelopment Agency ("Agency") executed a 40-year lease for the Ivy Substation ("Lease"). The Lease terminates in 2037 and includes a 10-year option that has been exercised. In 2012, the Lease was conveyed to the Successor Agency pursuant to AB26 and AB1484 (Dissolution Act). The Lease was conveyed to the City in early 2020.
TAG occupied the Ivy Substation via a license agreement since 2005. The license agreement required the Agency to pay building utilities (averaging between $17,000 and $20,000 annually), and TAG to pay $36,000 in annual rent and maintain the building.
In 2010 the license agreement was renewed with the following terms:
1. TAG to produce a minimum of 120 performances annually.
2. Agency to provides 5 parking spaces (at no charge) to TAG employees.
3. TAG offers use of the building to community organizations for up to 60 days...
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