City Council members will vote to approve a new interim agreement between the City of Trenton and the Kennedy Restaurant Group LLC, which owns Legends 1926 Bar and Grill, at a regularly scheduled city council meeting beginning at 8 p.m. Monday at Trenton City Hall.
So far, Legends 1926 Bar and Grill owners have fallen behind over $50,000 in rent and utilities. The agreement will allow each party to assess the viability of the enterprise and negotiate a reasonable long-term contract, according to the meeting's agenda.
City and restaurant officials came to an agreement Monday afternoon, but city council members must approve the agreement before it can be enforced.
The agreement contains six revisions to the original agreement:
- Kennedy Restaurant Group LLC (KRG) shall make monthly payments to the City of Trenton in the amount of $2,200 to be made by electronic transfer to the City's account in accordance with the following schedule: $550 per week by direct deposit each Friday of the month.
- The security deposit of $5,000 may only be used to pay those rental amounts in arrears (unpaid and overdue), and if drawn upon, must be replenished within 10 days.
- A final plan to segregate and secure Legends 1926 Bar and Grill's restaurant space preventing access to the restaurant from common areas of the Kennedy Recreation Center after closing must be presented to and approved by the City by Jan. 21, 2013.
- Utility fees are due and payable to the City 15 days from date of invoice and shall remain at the rate of 5 percent of City's utility bill at the Kennedy Recreation Center until May 1, 2013. The rate will be renegotiated during the interim period to represent actual usage by the respective parties.
- KRG shall execute and abide by the "alcohol policy during high school competitions" agreement.
- Notices to KRG under the new agreement will be sent to owner Mike Bayoff.
If approved, the 6-month agreement would begin immediately and expire April 30, 2013.