NCDA&CS - Request for proposals for the operation and management of a 6,764-square-foot Modernized and renovated restaurant facility in Greensboro.

PO-28 PROPOSAL FORM

(Must be submitted before the deadline for proposal to be accepted)

Name:

Firm Name:

Address:

Telephone:

Email:

Lease term ________ years effective ____________________, or a date satisfactory to the State plus ___(number of renewals) ______ year renewal period(s) upon mutual agreement to by both parties.

I. Rental: I propose the following minimum annual rental during year one (1) of the lease. Rental for the year must be described as a rate. The annual rental increases will begin in year 2 of the agreement.

Year 1 _______________

Annual increases of ___% beginning in Year 2 for the term and renewals (2% minimum).

To propose revenue sharing:

During each year of the Lease Term, Tenant shall pay an additional annual rent equal to ____% of Gross Revenues in excess of $_________, provided that the amount of such additional rent shall be in addition to the minimum annual base rent.

The Proposal Form shall require the proposer to clearly identify additional space below if needed:

The proposed percentage of Gross Revenue to be paid as additional rent, if applicable;

The Gross Revenue threshold at which revenue sharing would begin; if applicable

The proposed frequency of revenue-sharing payments; if applicable

Any proposed annual increases or adjustments to the base rent; and

The proposed number and length of renewal periods.

The State reserves the right to negotiate the final rental structure, including the base rent, revenue-sharing percentage, revenue threshold, annual adjustments, and other economic terms, and is not obligated to accept the highest proposed rental amount.

II. The selected proposer must register as a legal entity, if applicable, under North Carolina Law before the transaction is placed on the Council of State agenda. Failure to register may result in a delay in the approval process or rejection of the proposal.

Signature________________________________ Date ______________________

Signature________________________________ Date ______________________

NOTE: All proposals shall be submitted electronically via the North Carolina E-procurement Vendor Portal (NC eVP) The cut-off date for proposals: October 7, 2026 at 4:00PM.