Fairbanks City Council Agenda 2026-09 May 2026
City leases 550 1st Avenue to Alaska Universal Productions
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Description
The City of Fairbanks is authorizing a four-year lease of the City-owned log cabin at 550 1st Avenue to Alaska Universal Productions, Inc. for $2,500 per month, with up to $30,000 in rent waivable for agreed renovations. The lease will support a year-round café, coffee shop, and gift boutique with an option for a four-year renewal at the City’s discretion.
Contract Details
Contract Amount
$2,500 per month (up to $30,000 rent may be waived for renovations)
Vendor
ALASKA UNIVERSAL PRODUCTIONS INC
Agency
City of Fairbanks, AK
Contract Type
FACILITIES
Document Date
May 11, 2026
Contract Term
Four-year lease term beginning in 2026 and ending in 2030, with an additional four-year renewal option at City’s discretion
Renewal Date
2030-12-31
Renewal Info
Initial four-year lease term from 2026 to 2030, with a City‑discretionary option to renew for up to an additional four years beyond the initial term.
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