#23 - Extend Smith & Wollensky Lease

DISCUSS A PROPOSED EXTENSION OF THE CITY'S EXISTING LEASE WITH 1 WASHINGTON AVENUE CORP, THE CITY'S LONG-TERM TENANT AND OPERATOR OF THE "SMITH & WOLLENSKY" RESTAURANT FACILITY AT SOUTH POINTE PARK, WITH THE FOREGOING SUBJECT TO INDEPENDENT THIRD-PARTY APPRAISALS OF THE LEASE AND NEGOTIATION OF THE LEASE AMENDMENT TERMS, INCLUDING PROPOSED TENANT IMPROVEMENTS, WHICH WOULD BE COMPLETED BY THE LESSEE, AT NO COST OR EXPENSE TO THE CITY