2176 Niagara Falls Blvd - 412,500 sf [9.34-acre parking lot] for Lease

OVERVIEW

The Niagara Frontier Transportation Authority (NFTA) located in Erie and Niagara County, New York, is seeking proposals from qualified parties interested in entering into a license agreement at 2176 Niagara Falls Boulevard, Niagara Falls, New York 14304 for a 412,500 square foot [9.34-acre parking lot]. The parking lot fully paved, stripped, fenced in and lit. The lot has frontage and access from Niagara Falls Blvd and has secondary access from Cayuga Drive. The property is located in the Town of Wheatfield on Niagara Falls Boulevard across the street for the Niagara Falls International Airport.

TERMS

The term of the agreement is negotiable, and the minimum asking price is $.20 per square foot for access and use. The agreement(s) will grant the Licensee use of the premises in an "as is" condition; the Licensee is responsible for making the licensed premises suitable for its intended purpose. This will include any permitting or zoning requirements. Interested proponents may submit an offer for all or a portion of the premises.

INSURANCE REQUIREMENTS

At all times throughout the term of this Agreement, Tenant agrees to procure and maintain at its expense insurance of the kinds and in the amounts hereafter required, with insurance companies licensed to do business in New York State, covering all operations under this Agreement whether performed by it or its sub-tenants. The insurance companies affording coverage must be deemed acceptable to the Authority throughout the term of this contract. If any insurance company is deemed unacceptable to the Authority the Tenant agrees to procure and maintain at its expense coverage with an acceptable insurer as soon as notified by the Authority. The policies shall provide for a 30-day notice to the Authority prior to termination cancellation or change and the Niagara Frontier Transportation Authority shall be listed as Certificate Holder.

Prior to the execution of the Agreement, the Tenant shall supply the Authority certificate(s) of insurance providing evidence of insurance coverage for the Tenant for the following coverage:

• Commercial General Liability Insurance including coverage for property damage, bodily injury, personal injury and completed operations with a single limit of at least $1,000,000 per occurrence with a $2,000,000 aggregate. The certificate shall name the Niagara Frontier Transportation Authority as an additional insured.
• If any motor vehicle is used in the work, Auto Liability Insurance covering bodily injury and property damage with minimum combined single limit of $1,000,000. The certificate shall name the Niagara Frontier Transportation Authority as an additional insured.
• Workers’ Compensation and Employer’s Liability in accordance with the applicable laws of the State of New York

The Authority and the Tenant agree to waive all rights against each other for damages to the extent covered by the insurance. The Tenant shall require similar reciprocal waivers by all sub-tenants. This policy shall recognize such waivers of recovery by an appropriate Waiver of Subrogation Clause Endorsement, excluding any subrogation rights granted under New York Law to the contrary notwithstanding. Above needed insurance coverage should be provided on a primary and non-contributory basis. Copies of any required policies shall be provided to the Authority upon request. The Authority has the right to modify insurance requirements as conditions warrant.

Please submit a letter of interest with terms of the Agreement and proposed price by any of the contact methods outlined below.