FACILITIESPENDING

Letter of Intent for 36 Elm Street Lease with Realize Brokers

The City of Glens Falls received a Letter of Intent from Realize Brokers to lease and operate approximately 2,197 square feet at 36 Elm Street as a business-incubation hub called Elm Street Collective. The proposed five-year lease, with a five-year renewal option, includes flat monthly rents starting at $1,800 and a tenant-managed build-out funded in part by a City grant or reimbursement.

Document date · July 28, 2026

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Year 1: $1,800/mo ($21,600/yr); Year 2: $1,900/mo ($22,800/yr); Year 3: $2,000/mo ($24,000/yr); Year 4: $2,100/mo ($25,200/yr); Year 5: $2,200/mo ($26,400/yr); Option Yrs 6–10 escalating to $2,700/mo
Contract type
FACILITIES
Contract term
Initial Lease Term of five (5) years commencing August 1, 2026, with rent commencing September 1, 2026, plus one five-year renewal option (Option Years 6–10)
Renewal date
2036-08-01
Renewal
Tenant would have one option to renew for an additional five (5) years (Option Years 6–10) at pre-set flat monthly rents, with written notice required at least 90 days before expiration of the initial term. LOI is nonbinding and subject to execution of a formal lease by July 10, 2026.
Document type
AgendaPacket
Source document
Greater Glens Falls Local Development Corporation Special Meeting Agenda Packet 2026-07-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Glens Falls?

Realize Brokers was awarded this facilities contract by City of Glens Falls, as recorded on July 28, 2026. The contract value is Year 1: $1,800/mo ($21,600/yr); Year 2: $1,900/mo ($22,800/yr); Year 3: $2,000/mo ($24,000/yr); Year 4: $2,100/mo ($25,200/yr); Year 5: $2,200/mo ($26,400/yr); Option Yrs 6–10 escalating to $2,700/mo.

How much is the Realize Brokers contract with City of Glens Falls worth?

The Realize Brokers contract with City of Glens Falls is valued at Year 1: $1,800/mo ($21,600/yr); Year 2: $1,900/mo ($22,800/yr); Year 3: $2,000/mo ($24,000/yr); Year 4: $2,100/mo ($25,200/yr); Year 5: $2,200/mo ($26,400/yr); Option Yrs 6–10 escalating to $2,700/mo, 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 Greater Glens Falls Local Development Corporation Special Meeting Agenda Packet 2026-07-28 (AgendaPacket), dated July 28, 2026 from City of Glens Falls. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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