Tonight's Commission Meeting

Under New Business tonight:

Benny's Lease will be reviewed
Payment of rent in through possibly May 2020;  Provisions addressing potential COVID-19 restrictions which may include:  Rent deferment; and/or,  Rent abatement. While the City retains the absolute discretion as to whether to amend the Lease with Benny’s, City staff is supportive of the considering the amendment in view of its good Fiscal Impact Analysis - n/a Second Amendment (to be provided upon conclusion of negotiations) working relationship with Benny’s and Lee Lipton’s desire to take over and renovate Mulligan’s.

Mulligans Lake Worth acquisition--
The Second Amendment to the Retail Lease with Mulligans Lake Worth Acquisition, LLC (“Mulligans”), seeks authorization from the City to assign the Lease to NUSTART, LLC, for use as a Mexican restaurant with related amendments to the Lease’s term, rent and related provisions.

BACKGROUND AND JUSTIFICATION: On March 19, 2012, the City and Mulligans entered a retail lease for Units #7 and #8 at the Lake Worth Beach Municipal Casino Building (“Lease”). On January 19, 2016, the City and Mulligan’s amended the Lease to allow Mulligan’s to be acquired by a third party with George Hart remaining involved and as a guarantor. In April 2020, NUSTART, LLC’s owner, Lee Lipton (current owner of Benny’s at the Beach), contacted the City about an assignment of the Lease in order to renovate the premises for the operation of a Mexican restaurant. Consistent with the prior assignment of this Lease and other Casino Tenant leases

A Mexican restaurant would be a real winner.