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Youth Housing Project Draft Lease Summary

Youth Housing Project Draft Lease Summary. First Parish Cambridge. Draft Lease in Review. First Parish prepared detailed draft for PBHA/YHI PBHA attorneys have responded with comments Discussions ongoing to resolve issues YOF has received draft PBHA lease for review

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Youth Housing Project Draft Lease Summary

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  1. Youth Housing ProjectDraft Lease Summary First Parish Cambridge

  2. Draft Lease in Review • First Parish prepared detailed draft for PBHA/YHI • PBHA attorneys have responded with comments • Discussions ongoing to resolve issues • YOF has received draft PBHA lease for review • Separate YOF lease will be prepared

  3. Key Lease Provisions • Lease commences on signing – 10 yrs • Rent commences on July 1 • PBHA rent paid during construction • Basic rent is equal to ART current rent shared between YHI & YOF • Rent escalates 5%/yr after 2 yrs with review at 5 yrs • Specified operating hrs/permitted uses

  4. Key Lease Provisions - cont. • Agree to FP liaison staff time – 10 hrs • Construction activities expectations • No smoking or drug/alcohol use on premises • Repairs to leased premises at tenant expense • Landlord furnishes heat at agreed upon cost • Separately metered electricity, gas, water/sewer

  5. Key Lease Provisions – cont. • Initial $20K cap on utilities costs for tenant reviewed after 2 yrs • Tenant credit for estimated current utilities costs • Indemnification of First Parish • Landlord’s right of access/use specified • Tenant’s protection in case of damage to premises

  6. Key Lease Provisions – cont. • Eminent domain provisions (standard) • Requirements for tenant’s liability insurance, workers’ compensation, etc. • Tenant agrees to remove/handle hazardous waste at own expense, meeting all current laws • Recourse in case of tenant’s default of rent/other charges

  7. Lease Exhibits • A. Plan Showing the Premises • B. Plan Showing Access to the Premises • C. Plans and Specifications Showing Improvements to Premises • D. Schedule for Set Up and Take Down of Equipment • E. Notice of Lease • F. Operating Agreement Between YHI/YOF • G. Security Plan

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