FACILITIESPENDING

Fairbanks City Council Work Session Agenda May 12, 2026

City leases 550 1st Avenue cabin to AUP

$2,500 per month for 4 years (up to $120,000 total rent; up to $30,000 may be waived for renovations)City of FairbanksALASKA UNIVERSAL PRODUCTIONS INCMay 12, 2026

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Description

The City of Fairbanks is moving to lease its log cabin property at 550 1st Avenue to Alaska Universal Productions, Inc. for four years at $2,500 per month. The lessee will operate a year-round café, coffee shop, and gift boutique and may receive up to $30,000 in rent waivers for agreed renovations, with an option for an additional four-year renewal.

Contract Details

Contract Amount

$2,500 per month for 4 years (up to $120,000 total rent; up to $30,000 may be waived for renovations)

Vendor

ALASKA UNIVERSAL PRODUCTIONS INC

Agency

City of Fairbanks, AK

Contract Type

FACILITIES

Document Date

May 12, 2026

Contract Term

Four-year lease, beginning on an unspecified date in 2026 and ending in 2030, with an option to renew for up to an additional four years

Renewal Date

2030-12-31

Renewal Info

Initial lease term is four years starting in 2026 and ending in 2030. Upon expiration, the City may, at its sole discretion, grant an option to renew for up to an additional four years; holdover without consent may convert to month-to-month tenancy at the City’s option.

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