601 East 5th Street (File 26-2161)
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Authorize negotiation and execution of a lease agreement with Slice Padel Co., LLC, on behalf of Austin Convention Center department, for an initial term of three years, plus two one-year extension options, for approximately 42,654 square feet of space on the top level of the City-owned parking garage located at 601 East 5th Street, Austin, Texas 78701, including approximately 118 parking spaces. Funding: This item is projected to result in additional revenue of $3,000 in the Fiscal Year 2025-2026 Operating Budget and $33,000 in the Fiscal Year 2026-2027 Operating Budget of the Austin Convention Center department.
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Request lease terms for Slice Padel Co. garage rooftop deal
Applies if: Reader is covering city real estate or Convention Center finances
Why now: The item projects only $3,000 in FY2025-2026 and $33,000 in FY2026-2027 revenue for roughly 42,654 square feet and 118 parking spaces on the top level of the garage at 601 East 5th Street, and records no outcome for the 2026-08-27 Council appearance.
What to do: Ask the Austin Convention Center department for the draft lease and the rent calculation behind the projected revenue. The public item shows only small totals for a 42,654-square-foot space with about 118 parking spaces, and the rent basis is not explained.
Act before: After the requested records are produced
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Authorize negotiation and execution of a lease agreement with Slice Padel Co., LLC, on behalf of Austin Convention Center department, for an initial term of three years, plus two one-year extension options, for approximately 42,654 square feet of space on the top level of the City-owned parking garage located at 601 East 5th Street, Austin, Texas 78701, including approximately 118 parking spaces. Funding: This item is projected to result in additional revenue of $3,000 in the Fiscal Year 2025-2026 Operating Budget and $33,000 in the Fiscal Year 2026-2027 Operating Budget of the Austin Convention Center department.