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From YouTube: City oc Charleston Committee on Real Estate 3/7/2022
Description
City oc Charleston Committee on Real Estate 3/7/2022
B
All
right,
okay,
everybody
welcome
to
all
right.
Welcome
to
the
march
7
2022
real
estate
committee
meeting,
it
is
approximately
3
34
in
the
afternoon.
We
will
start
with
an
invocation
from
myself.
Let's
just
go
with
the
traditional
moment
of
silence,
but
this
time,
maybe,
let's
think
about
all
the
people
that
are
caught
in
the
very
unfortunate
conflict
overseas
in
ukraine.
B
A
B
We've
got
a
second
mini
discussion
hearing,
none
all
in
favor
by
saying
aye,
aye
all
opposed
the
eyes.
Have
it
first
item
on
the
agenda
is
an
ordinance
to
authorize
the
mayor
to
execute
a
deed
and
any
other
necessary
documents.
This
is
for
the
charleston's
museum
of
the
children's
museum
of
charleston
and
I
believe
miss
copeland
will
be
handling
this
one.
Yes,.
C
C
So
that's.
Why
we're
before
you
today
to
really
just
make
sure
that
council
would
in
fact
bless
this
deal,
so
what
the
children's
museum
is
asking
for,
specifically,
is
the
city
quick
claim
this
piece
of
the
building
here
to
the
museum
to
include
this
section
behind
here
under
a
99-year
lease
10
a
month,
and
with
that
we
would
have
the
right
of
reverter,
should
the
museum
ever
go
for
profit
or
sell
to
someone
else
or
move
up
the
peninsula
and
part
of
this?
C
Why
they're
asking
for
this
specifically?
Is
this
screen
right
here?
They
plan
to
use
the
building
as
collateral,
to
borrow
some
money,
to
make
significant
improvements
to
the
building,
including
what
you
see
here.
This
exterior
feature
they're
going
to
change
the
location
of
the
entrance
to
the
building
right
now.
It's
facing
that
new
bar
restaurant
called
the
bodega
they're,
going
to
pull
that
up
and
put
it
on
the
other
side
of
the
building
here
on
ann
street,
and
so
really
we
would
like
to
get
council
blessing
first
before
we
go
through
the
subdivision
process.
C
With
staff
staff
has
already
sat
down
with
members
of
the
board
with
the
museum
just
to
make
sure
that
one
they
have
the
necessary
setbacks.
In
order
to
make
all
of
these
improvements,
should
they
get
the
deed
to
this
building
and
everything
seems
to
be
a
go
as
far
as
staff
is
concerned.
We'd
just
like
to
hear
from
council
and
committee,
of
course,.
D
D
Did
the
renovation
at
their
expense?
They
raised
the
money
and
the
city
just
prevented
the
long-term
lease
so
they're
at
a
juncture
now
where
they
want
to
make
major
capital
improvements
to
the
property
and
continue
to
operate
it
in.
You
know
perpetually
as
a
children's
museum,
which
I
think
is
a
good
use
for
for
the
city
and
if
they
ever
chose
to
do
anything.
D
Different
we'd
have
a
reverter,
bringing
it
back
to
us
right,
julia
or
lee
yeah,
and
they
they
claim,
and
I
I
concur
that
the
the
fee,
simple
ownership,
will
help
them
with
their
financing
of
multi-million
dollar
improvements
to
the
property
and
to
the
building,
and
so
so
that's
why
we
bring
this
to
you
to
support
them
and
their
long-term
viability
and
sustainability
and
allowing
them
to
be
able
to
get
a
nicer
facility
for
for
our
city
and
anyway.
I
just
thought
I'd
share
that
background.
E
C
B
I
think
the
idea
is
to
get
a
little
bit
of
feedback
from
us
on
the
general
concept
here
before
you
know.
We
go
about
that
process
because
subdividing
getting
a
surveyor
out.
This
is
complicated
stuff
and
these
guys
are
backed
up
these
days.
I
think
I
saw
councilman
shayed's
hand
and
councilman
waring.
F
F
C
I
apologize
I
I
misspoke
I
it
was
not
a
99
year
lease
it
was.
We
would
be
quit
claiming
the
the
property
to
them
in
fee
simple,
so
my
apologies
with
that
we
would
be
selling
the
building
to
them
right
now.
They've
got
about
47
years
left
on
the
lease
that
they're
currently
under
and
their
argument
is.
They
would
like
to
have
the
simple
title
in
order
to
get
better
loan
conditions
with
the
banks.
F
So
do
we
need
to
lease
it
a
little
bit
longer
extend
the
lease.
My
point
is,
you
know
it's
a
tepid
subject,
but
you
know
we
had
a
situation
with
the
law
school
and
the
wall
street
property
and
revert
to
clause
with
the
wall
street
property
and
when
another
entity
came
into
the
law
school
and
took
over
the
law
school
from
the
original
group
purchasing
group.
F
F
F
They
can
secure
the
financing
that
way
and
city
and
future
councils
would
have
better
options
because
no
doubt
about
it.
60
years
from
now,
none
of
us
gonna
be
around
on
council.
I
would
be
about
a
hundred
and
me,
and
I
would
be
about
132
something
like
that.
100
126
126
years
ago,
peter
also,
by
the
way.
F
F
I
think
the
the
goal
is
to
help
them
secure
financing
in
particular,
while
interest
rates
are
down
on
on
amenable
terms
and
whatever
we
have
to
do
that.
Besides
just
getting
rid
of
the
property
entirely.
I
think
we
should
do
it
that
way,
but
I
don't
think
we're
gonna
just
entirely
give
up
the
city
asset
like
that.
A
Does
anybody
know
that,
because
it
seemed
to
me
that
there
was-
and
now
I
may
be
just
totally
wrong
and
got
my
figures
confused,
but
it
seemed
like
the
number
of
residents
that
we
were
serving
were
not
as
proportional
to
the
city's
population
that
I
thought
there
were
students
coming
from
out
outside
of
the
city
limits
that
we
were
serving
on
this
museum,
and
I
support
the
museum,
I'm
a
I'm,
a
big
fan
of
it.
I
think
they
do
a
great
job
and
what
they
are
accomplishing.
A
There's
an
innovative
method.
It's
in
this
very
alive-
and
I
know
they
got
some
good
summer
programs
out
there.
But
can
we
before
we
decide
what
we're
going
to
do
with
this?
We
get
sort
of
a
breakdown
on
the
number
of
children
that
we're
actually
servicing
in
the
city
of
charleston
and,
even
more
importantly,
the
number
of
children
on
the
on
the
peninsula.
G
We
can
get
now
we
can
get
that.
I
should
say,
though,
that
one
of
their
focus
is
councilman
is
on
title
1,
kids,
in
the
county
school
district,
so
you
may
see
an
awful
lot
of
kids
coming
from
outside
of
the
city,
but
they're
part
of
the
charleston
county
school
district
and
they're
really
focused
on
title
one:
kids,
which
are
the
poor
most
disadvantaged
kids
in.
A
You
know
we're
going
through
this
mess
right
now
with
the
school
of
law,
and
I
don't
want
to
repeat
that.
So,
if
there's
another
alternative
to
selling
the
property,
I'm
I
just
want
to
have
weigh
our
options
on
that.
If
we
can
is
there?
Is
there
any
urgency
on
this?
Is
this
something
that
has
to
be
done
immediately?.
A
So
is
it
okay?
If
we
just
defer,
do
we
get
some
of
these
answers?
Looked
at
as
to
you
know,
I
want
them
to
be
successful.
I
want
them
to
get
the
funding
that
they
need,
but
if
there
are
other
options
just
besides
I'm
selling
it
I'd
like
to
find
out
what
find
out
first,
you
know
they
talk
about
a
half
percentage
point.
They
talk
about
two
percentage
point
difference
on
their
loan.
Do
we
need
to
extend
at
least
65
years
as
opposed
to
70s?
I
mean
I
just
want.
B
I
don't
understand
how
a
bank
would
lend
money
and
take
a
mortgage
on
a
piece
of
property
that
got
that
got
a
reverter
clause
in
it,
where
the
collateral
could
essentially
just
get
swept
up
from
underneath
them.
If
you
know
the
business
was
essentially
handled
in
a
different
way
that
triggered
the
reverter,
so
in
other
words
I'm
calling
into
question
whether
or
not
this
concept
is
even
something
that
would
work.
B
D
So
working
backwards,
you
know,
I
I
think,
as
long
as
the
bank
had
their
eyes
open,
that
the
the
borrower
intended
to
maintain
a
children's
museum
there,
which
is
in
fact
their
intent.
I
don't
I
don't
know
where
that
would
matter
to
them.
They.
They
must
know
that
going
into
the
deal
and
just
to
share
with
you
and
back
to
councilmember
waring's
point
was
totally
not
lost
on
myself
or
city
staff
regarding
a
long-term
lease
or
longer
term
lease
versus
a
quit
claim
deed.
D
D
The
point
of
view
that
city
building,
we
we
don't
own
the
building,
y'all
do
and
you
should
be
you
know,
replacing
the
hvac
system
and
helping
us
do
all
these
improvements,
which
they
had
specked
out
to
be
something
like
six
or
eight
million
dollars
worth
of
stuff
and
which
would
make
it
much
nicer.
It
needs
updating
and
all
like
that.
Don't
get
me
wrong,
so
it
led
to
a
discussion.
Well,
you
know
that
that's
a
valid
point,
but
of
course
my
institutional
knowledge
was
well
gee.
D
You
know
we
just
didn't
set
it
up
that
way
back
in
the
90s.
Does
the
city
lease
you
the
property,
as
is
where
is,
and
you
all
agreed
to
take
care
of
it
you
know
and
and
well
they.
They
then
rely
on
all
the
things
they're
doing
for
kids
in
our
community.
The
title
ones,
students
that
that
rick
just
mentioned
and
all
like
that,
so
so
it
kind
of
got
down
to
gee.
A
So
I
made
to
your
point-
and
I
hear
you
very
loud
and
clear
about
that-
and
that's
that's
a
good
thing
to
consider,
but
can
we
get
some
results
from
them
of
what
we're
looking
at?
I
mean
they're,
looking
at
a
10
million
or
5
million
dollar
motivation
project,
you
know
if,
if
they
can't
raise
this
money
through
a
financial
institution,
they'll
come
back
to
the
city
and
ask
for
2
million
dollars.
I
like
to
get
sort
of
a
broad,
a
more
broad
view
of
what
they're
doing
here
and
what
they're
asking
for.
A
I
mean
you
may
be
right
on
point
with
this,
with
your
comments
that
they
can
go
to
the
bank
and
borrow
the
money
and
they'd
be
up
and
running
and
no
ass
from
the
city
on
anything
else
in
the
future,
or
you
know
they
can
go
to
the
bank
with
a
75-year
lease
and
and
get
the
same
rate
I
just
want
to
get
some
more.
I
want
to
compare
apples,
apples
and
oranges
are
on
just
before
we
make
this
decision
to
sell
this
property
to
them.
Let
me.
F
I
think
there's
a
way
we
can
find
find
a
way
to
help
the
museum.
Okay.
I
don't
think
this
is
the
only
way
to
financially
structure
something
so
I
think,
helping
the
museum.
I
think
that's
going
to
happen,
okay,
but
back
to
councilman
jade's,
point
of
children
who
were
helping
lopez
and
francis
closed
this
obgy
in
unit
because
there
weren't
enough
babies
being
born
on
the
peninsula
to
make
it
profitable.
A
F
F
I
think
that's
a
good
format
to
kind
of
look
at
city
put
money
in
obviously
not
always.
The
cbb
has
more
money
than
the
children's
museum,
but
they
do
have
friends
at
the
children's
museum.
There's
a
financial
package
we
can
get
put
together
to
help
help
the
children
museum
with
the
renovations
they
didn't
like
to
do
that.
F
We'd
like
to
see
happen
at
that
point,
but
I
still
think
the
city
should
should
control
the
property,
and
I
think,
when
you
get
back
to
some
of
the
demographics
that
councilman
shea
is
talking
about,
you
may
see
a
lot
of
tourists
going
there,
which
means,
maybe
they
qualify
for
some
of
the
tourism
dollars
to
help
go
towards
that
renovation.
So
I
think
all
of
us
on
the
same
page,
want
to
help
them
get
the
money
to
do
what
they
want
done.
F
D
E
B
F
D
B
About
that
certainly-
and
I
think
we
look
forward
to
hearing
from
them-
and
I
think,
there's
a
unanimous
desire
to
see
something
happen
there
and
you
know
right
across
the
way
you
know
one
of
the
first
matters
you
know.
I
remember
from
my
time
on
the
real
estate
committee
was,
you
know,
changes
to
the
lease
that
allowed,
essentially
the
bodega
and
the
sharehouse,
these
two
new
establishments
right
across
the
way
to
get
going
and
if
y'all
haven't
been
there
down
there
recently,
you
should
go
check
it
out.
B
They've
done
one
heck
of
a
job
and
they've
really
infused
some
life
into
that
part
of
the
city,
and
if
we
can
do
this
with
the
children's
museum,
that
little
block
of
you
know
off
of
and
street
right,
there
can
really
be
rocking
and
rolling.
So,
in
any
event
on
to
our
second
item
on
the
agenda,
this
is
a
request
for
an
approval
of
an
ordinance
authorizing
the
mayor
to
execute,
on
behalf
of
the
city
of
charleston,
a
lease
agreement
with
lucier
enterprises
llc.
This
is
for
the
cigar
shop
over
there.
H
Yeah,
thank
you
so
much
shana
napel
good
afternoon,
council
members,
chairman
of
hell,
is
correct.
This
is
a
lease
agreement
for
sweet
bee
in
the
francis
marion
retail
complex.
It's
the
cigar,
lounge,
that's
been
there
for
a
number
of
years.
This
lease
is
an
initial
five-year
term.
With
several
renewals,
the
base
rent
is
36
dollars,
a
square
foot
which
is
around
3816
per
month
with
a
three
percent
annual
increase
and
that's
right
in
line
with
market
rate
there.
H
H
This
is
one
of
those
city-owned
properties
that
for
a
number
of
years,
I
believe,
since
the
mid-90s
has
been
under
a
master
lease
agreement
with
an
outside
party,
and
so
the
city
was
not
handling
the
property
management
directly,
but
that
mass
release
has
expired
and
the
real
estate
management
division
is
going
to
be
taking
over
and
self-managing
the
space.
Now
so
we're
excited
about
it,
and
this
lease
expired
around
the
same
time
as
the
master
lease,
so
we
are
transitioning
into
the
property
management
there.
H
B
Looking
on
the
floor
in
a
second
any
discussion,
I'll
just
add
my
two
cents.
I
know
the
proprietor
of
this
business
he's
a
class
act
and
he's
a
friend
of
the
cities
and
it's
in
good
hands
and
they've
got
some
exciting
things
planned
for
that
part
of
the
city,
so
good
partner
with
the
city
of
charleston.
Any
other
discussion.
D
So,
thank
you,
mr
chairman,
and
maybe
lee
could
share
with
us
the
the
net
difference
that
the
city
will
see
in
revenue,
given
that
we
will
be
managing
this
ourself,
and
I
would
also
point
out
that
the
property,
even
though
it's
owned
by
the
city
since
we
are
releasing
that
commercially
property
taxes
are
levied
on
on
this
space,
as
it
rightfully
should
be
so
that
that
continues
continues
on.
But
if
I'm
not
mistaken,
we
we
get
a
nice
bump
in
revenue
from
per
square
foot
lee.
What
is
that
like.
H
Mayor,
yes,
sir,
I'm
happy
to
provide
a
little
bit
of
information
on
that,
so
this
past
year,
I
believe,
was
this
past
year
and
matt
fuller.
Please
forgive
me
if
I'm
incorrect,
but
under
the
master,
lease
agreement
with
the
property
management
company
handling
things,
I
believe
we,
our
net
revenue
for
the
city,
was
around
thirty
six
thousand
seven
hundred
and
eight
dollars
currently
with
us
taking
over
self
management
and
without
that
additional
space
next
door
to
suite
b
being
leased
out
yet
we're
already
making
more
money.
H
We
are
projecting
looking
at
market
rate
and
looking
at
hopefully
getting
suite
a
leased
out
getting
that
additional
terrace
area
mayor
and
release
again
there's
potential
revenue
for
the
city
of
around
140
000,
as
opposed
to
the
36
000,
so
we're
very
excited
to
be
taking
over
the
the
management.
I
think
it'd
be
a
really
positive
move.
E
E
H
H
B
B
B
B
Yeah,
I
think
yeah
yeah
alexis
would
definitely
pack
up
and
not
leave.
If
I
got
into
cigars,
that
would
be
the
final
straw
all
right,
guys
we'll
thank
you
all
for
your
time
and
everybody's
great
engagement
as
always,
and
we'll
see
some
of
y'all
at
4
30
for
public
works
and
utilities.
Of
course,
everyone
tomorrow
night.