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MOM: Meeting Summary for Kitchen Rental Proposal at CIF Building
Minutes of the Meeting Summary
Meeting Details
- Date: 22-05-2024
- Time: 11:00 am
- Location: Muscat Bay - Meeting Room - CIF Building
Attendees
- Participants:
- Muscat Bay team
- JMB - CFO
- Al Naba Business Management team
Agenda
- Discussion on renting out the CIF building and associated kitchen facilities.
Key Points Discussed
Overview of CIF Building
- Location: The CIF building is centrally located and well-suited for commercial kitchen operations.
- Facilities:
- Brand-new kitchen appliances.
- Additional assets including:
- Extract fans for the toilets.
- York chiller brand AC units.
- Other relevant equipment and utilities.
Rental Proposal
- Purpose: Renting the CIF building to accommodate kitchen operations.
- Financial Terms:
- Monthly rental fees including utilities (water, electricity).
- Maintenance responsibilities and associated costs.
Kitchen Equipment and Assets
- Kitchen Appliances:
- All appliances are brand new, ensuring high efficiency and reliability.
- Specific brands and models to be provided.
- Additional Assets:
- Extract fans for maintaining hygiene in the toilets.
- York chiller brand air conditioning units for optimal temperature control.
- Other necessary utilities to support kitchen operations.
Maintenance and Operational Responsibilities
- Maintenance:
- Regular servicing of kitchen appliances.
- Monthly and quarterly reports on maintenance activities.
- Preventive maintenance to be validated by engineering teams.
- Operational Costs:
- Water, electricity, and gas costs to be covered by the tenant.
- Costs associated with waste management and grease trap cleaning.
Coffee Shop Operations
- Operational Responsibilities:
- Operate the provided coffee shop on a cash basis.
- Monthly rental fees include utilities such as water and electricity.
- Maintenance of chiller charges.
Safety and Cleaning
- Responsibilities:
- Cleaning and maintaining the area, including all safety equipment.
- Regular gas refilling and maintenance of kitchen appliances.
- Ensure all assets are returned in good condition at the end of the contract.
Third-Party Inspections
- Agreement:
- Conduct third-party inspections before handing over the premises back to Muscat Bay.
- Ensure no damages or issues with the assets upon contract completion.
Future Considerations
- Depreciation and Replacement:
- Discussion on the depreciation of kitchen equipment over a five-year period.
- Reserve fund for the replacement of equipment as needed.
- Transparency and Reporting:
- Regular reporting and transparency in operations.
- Sharing business revenue and adjusting rental agreements based on business volume.
Community and Business Model
- Community Services:
- Provision of community benefits such as free weekly lunch for staff.
- High-quality food and services matching the standards of premium clients like Jumeirah.
- Business Model:
- Emphasis on operating efficiently within existing areas.
- Potential for growth and increased business volume.
Action Items
- Financial Agreement: Finalize the monthly rental fees and other financial terms.
- Maintenance Plan: Develop a detailed maintenance plan with regular reporting.
- Equipment List: Provide a comprehensive list of kitchen equipment and their depreciation schedule.
- Community Engagement: Plan for community services and additional benefits.
- Future Discussions: Schedule follow-up meetings to discuss progress and any adjustments needed.
Conclusion
- Summary:
- The CIF building offers a well-equipped and centrally located facility for kitchen operations.
- Detailed financial and maintenance plans are essential for ensuring smooth operations.
- Transparency and regular reporting will be key to the success of the rental agreement.
- MOM: Meeting Summary for Kitchen Rental Proposal at CIF Building
- Agenda
- Key Points Discussed
- Overview of CIF Building
- Rental Proposal
- Kitchen Equipment and Assets
- Maintenance and Operational Responsibilities
- Coffee Shop Operations
- Safety and Cleaning
- Third-Party Inspections
- Future Considerations
- Community and Business Model
- Action Items
- Conclusion