424 W 54 St Lease Agreement Renewal (2023-2025)
Hello stewarding prime-mates!
We will be renewing our lease agreement for the guildhall at 424 West 54th street on March 1, 2023. The BOD wanted to share the lease agreement with stewarding cooperative members prior to signing off. Please note that PPAC technically has not been able to maintain its part of this agreement because PPAC has not been able to cover its own operating costs and currently owes 424 W 54 LLC for covering those operating costs in good faith, (A.K.A. our debt to 424 W 54 LLC).
That being said, we plan on signing this with the hope that we can correct our solvency issue soon and be in good standing as a tenant.