HomeMy WebLinkAbout83-128 - Balboa Bay ClubRESOLUTION NO. 83 -128
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING INTERNATIONAL BAY
CLUBS, INC., TO SUBLET CERTAIN PORTIONS OF THE
BALBOA BAY CLUB PREMISES AND ESTABLISHING THE
RATE OF RENTAL PAYMENTS TO THE CITY FOR
SUBLEASES OF THE BALBOA BAY CLUB PREMISES FOR
COMMERCIAL PURPOSES FOR TERMS IN EXCESS OF ONE
YEAR
WHEREAS, the City of Newport Beach has entered into a
lease dated March 24, 1948, with the predecessors -in- interest to
International Bay Clubs, Inc., of certain City -owned real
property generally referred to as The Balboa Bay Club site; and
WHEREAS, said lease provides that International Bay
Clubs, Inc., shall not sublet the premises described in said
lease, or any part thereof, for the purposes of operating and
conducting any business enterprise for a term in excess of the
period of one year without the written consent of the City; and
WHEREAS, International Bay Clubs, Inc., has requested
that the City Council approve two subleases which, after
consideration thereof, the City Council wishes to approve.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach as follows:
1. The City Council hereby approves the following
proposed sublease:
a) A sublease between. the International Bay
Clubs, Inc., lessor, and Eagle American, a California
corporation, d /b /a Brett Walker Newport, lessee, for a term of
five (5) years. The purposes for which the premises are
subleased are the operation of a women's beauty parlor and for
0 the sale of cosmetics and beauty accessories incidental thereto.
2. It is mutually agreed between the City and
international Bay Clubs, Inc., that the consideration to be paid
•
to the
City
for all subrentals
received
by International Bay
Clubs,
Inc.,
from any and all
subtenants
carrying on and
conducting a business on any part or portion of the leased
premises under any sublease or subleases providing for a term of
more than one year shall be based upon the following formula:
2 1/2 8 of the first $1,000 of gross sales per month;
28 of the second $1,000 of gross sales per month; and
1 1/28 of the balance of gross sales per month.
ADOPTED this 12th day of December , 1983.
RSP /BayClub
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