Clayton to Consider Parking for Commerce, Liquor License for Straubs

The Clayton Board of Aldermen will consider extending a lease for Commerce Bank and a liquor license for Straubs when it meets Tuesday. 

The board meets at 7 p.m. Tuesday at Clayton City Hall. An executive session will begin at 6:15 p.m. Items on the agenda include: 

Renewed Parking Lease With Commerce Bank 

The board will review the execution of a revised agreement with Commerce Bank for public parking located at 9-15 N. Meramec Avenue. Commerce Bank is seeking to amend the current lease agreement for public parking. It has leased the property from the city since 1995.

The requested changes include: 

• The split of parking revenue. Under the 1995 lease Commerce received 25 percent of the gross revenue associated with public parking on the site. The revised lease increases this amount to 50 percent after a deduction for expenses related to parking enforcement. 
  
• The number of spaces that Commerce receives from the City to offset the displacement of parking for their employees. The original lease provided Commerce with 54 spaces in the City owned lot, or a one for one trade with the spaces in the 9-15 N. Meramec lot. Over the years the City has informally increased this number to 59. The revised lease formalizes that number.
  
• A change to the termination notice—under the current lease each party was to give notice prior to May 1 of any year the lease is in effect that that it would be terminated on June 30 of the same year. The revised lease allows either party to terminate the lease with a 90 day notice.
  

• Oct. 1, 2013 through Sept. 30, 2014 — 2.5 percent, $1,792,733.16
• Oct. 1, 2014 through Sept. 30, 2015 —1.5 percent, $1,819,624.16
• Oct. 1, 2015 through Sept. 30, 2016 — 2 percent, $1,856,016.64
• Oct. 1, 2016 through Sept. 30, 2017 — 1.5 percent, $1,883,856.89
• Oct. 1, 2017 through Sept. 30, 2018 — 2 percent, $1,921,534.03