Hartford Eyes Landmark Lease for Mixed-Use Redevelopment | City of Hartford | ANDALEEB ENTERPRISES LLC

Scope & details

The full contract record, as filed.

Contract amount

$1.00 (initial lease payment); project estimate $30,400,000; up to $250,000 City contribution for renovations; PILOT payments as per term sheet

Contract type

OTHER

Contract term

49-year ground lease with option to extend or acquire; 9-month due diligence (extendable)

Renewal

Lease includes option to extend or purchase; initial 9-month due diligence with possible 9-month extension. Long-term PILOT payments with financial reporting. Transfer/assignment rights allowed with approval. Remedies for default set in agreement.

Document type

Agenda

Source document

city_of_hartford_hybrid_city_council_agenda_decemb.pdf

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Other contracts from Andaleeb Enterprises Llc.

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city_of_hartford_hybrid_city_council_agenda_decemb.pdf

city_of_hartford_virtual_committee_meeting_agenda.pdf

AWARDED

City of Hartford, Connecticut$10,764,000 (projected total development cost)Jun 17, 2024

city_council_planning_economic_development_and_hou.pdf

PENDING

City of Hartford, ConnecticutUp to $250,000 for improvements; $3,468.00/month with escalationsApr 4, 2024

city_council_planning_economic_development_and_hou.pdf

APPROVED

City of Hartford, Connecticut$30,400,000 (projected total development cost); $1.00 ground lease payment; PILOT payments per scheduleApr 4, 2024

city_of_hartford_virtual_public_hearing_agenda_nov.pdf

PENDING

City of Hartford, ConnecticutUp to $250,000 City tenant contribution toward improvements; $3,468/month base lease payment (Year 1-5), escalating through Year 20Nov 20, 2023

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Hartford?

Andaleeb Enterprises Llc was awarded this government contract by City of Hartford, as recorded on December 9, 2024. The contract value is $1.00 (initial lease payment); project estimate $30,400,000; up to $250,000 City contribution for renovations; PILOT payments as per term sheet.

How much is the Andaleeb Enterprises Llc contract with City of Hartford worth?

The Andaleeb Enterprises Llc contract with City of Hartford is valued at $1.00 (initial lease payment); project estimate $30,400,000; up to $250,000 City contribution for renovations; PILOT payments as per term sheet.

What type of contract is this?

This is a government contract, documented as a agenda record.

Where was this contract approved?

This contract appears in city_of_hartford_hybrid_city_council_agenda_decemb.pdf (Agenda), dated December 9, 2024 from City of Hartford. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Andaleeb Enterprises Llc hold?

Andaleeb Enterprises Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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