CBGB's renews lease for another year in New York City

In a surprising turn of events - particularly in light of recent revelations about future plans, CBGB has renewed it's lease with the the Bowery Residents Commitee. The BRC had served eviction papers to the legendary club in September but in light of the new agreement, it will occupy the current location until Halloween 2006.

Mayor Michael R.Bloomberg issued this statement:

I applaud the management of CBGB and the officials of the Bowery Residents Committee for working together to reach a year-long agreement that allows CBGB to continue serving audiences. For more than a quarter of a century, CBGB has served as an incubator for cutting edge artists and entertainers. With today's agreement and our efforts, I believe CBGB will continue its prominent role in setting trends in music and culture.

Since the impasse between CBGB and Bowery Residents Committee, our administration has stressed the importance of resolving this dispute while suggesting alternative sites for CBGB to consider. We will continue to work with CBGB so that at the conclusion of the year-long agreement announced today, CBGB might identify a dynamic new venue in this City that is fitting of its rich history.

Along with being the landlord of the site from which CBGB operates from, the Bowery Residents Committee is a partner with our administration in our comprehensive efforts to end chronic homelessness. Last year the Bowery Residents Committee serviced 6,300 needy New Yorkers. This year, they expect to serve 7,000 individuals. Our administration will continue to work with the Bowery Residents Committee so that
together, we might meet the needs of our City's most vulnerable residents.

According to the Save CBGB campaign, to date, the club has agreed to significant rent increases, obtained a certificate of occupancy, secured two third-party guarantors, agreed to a large security deposit, agreed to pay $97,500 (the amount of the disputed rent arrears plus interest) in good faith to the BRC upon receiving a new lease, even though the Manhattan courts ruled that CBGB did not owe any money to the BRC.

A number of acts had pledged their support to the legendary venue, including two influential acts which reunited to raise money: Lifetime and Kid Dynamite. As well, a concert series ran through August which donated proceeds to the club.