Just learned that the Mayor's office will be sending down a lease amendment to the City Council for Building 11 at Magnuson Park. The original lease, agreed to during the Nickels administration, has been controversial for its displacing of artists and other uses for a private development.
Mayor Mike McGinn has been getting an earful from opponents of the deal, but the city has determined that getting out of the lease would likely lead to a costly, and not very winnable lawsuit.
McGinn recently told a Town Hall in Montlake that he was attempting to get more public benefits in an amended agreement. Those now reportedly include a guarantee of 5,000 square feet in the renovated space for artists studios, nearly 17,000 for parks and recreational use, access and storage for sailing, $9 million in capital improvements, and an additional $1 million in revenue over the 45-year term of the lease.
