City Plans Five-Year Lease With Co-op Market

The City of Fairbanks plans to lease its log cabin property at 550 1st Avenue to Fairbanks Community Cooperative Market, Inc. for a five-year term at $2,250 per month, generating $27,000 in annual rent. The lessee will operate a deli and satellite food box distribution center under a lease that includes CPI-based rent adjustments and potential extensions for up to ten additional years.

Scope & details

The full contract record, as filed.

Contract amount

$2,250 per month (annual total $27,000)

Contract type

FACILITIES

Contract term

Initial 5-year lease beginning in 2026 and ending in 2030, with potential annual renewals for up to an additional 10 years

Renewal date

2030-12-31

Renewal

Initial 5-year term from 2026 to 2030, with the City retaining sole discretion to grant annual renewal options for up to an additional 10 years on a year-to-year basis. Lessor may increase rent annually by the prior year’s Anchorage CPI percentage.

Document type

AgendaPacket

Source document

City of Fairbanks AgendaPacket Regular Work Session 2026-08-04

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Fairbanks?

Fairbanks Community Cooperative Market Inc was awarded this facilities contract by City of Fairbanks, as recorded on August 4, 2026. The contract value is $2,250 per month (annual total $27,000).

How much is the Fairbanks Community Cooperative Market Inc contract with City of Fairbanks worth?

The Fairbanks Community Cooperative Market Inc contract with City of Fairbanks is valued at $2,250 per month (annual total $27,000), covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Fairbanks AgendaPacket Regular Work Session 2026-08-04 (AgendaPacket), dated August 4, 2026 from City of Fairbanks. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Fairbanks Community Cooperative Market Inc hold?

Fairbanks Community Cooperative Market Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Fairbanks Community Cooperative Market Inc's profile

What is City of Fairbanks currently buying?

Explore City of Fairbanks's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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