The Cleveland Heights-University Heights Public Library has reached an agreement with its Coventry school building tenant, Coventry Peace Inc. (CPC).
On Monday, August 31, CPC President Deanna Bremer Fisher, signed a letter of intent created by Heights Libraries that outlines the primary business terms and conditions under which the Library will lease the building to the CPC. The details of a new lease will be worked out over the next few weeks, and must be signed by the CPC by September 30.
The lease will begin October 1, 2020, and be good for one year, at which time it may be converted to a longer-term lease, provided the tenants are in good standing and have fulfilled the lease requirements.
Beginning October 1, the tenants will pay $500 per month in rent in addition to paying for its own insurance and real estate taxes. It will also pay $12,000 a month for utilities.