SR-05-23-1978-6SSanta Monica, California May 5, 1978
TO: Mayor and City Council
FROM: City Staff
SUBJECT: Partnership Agreement, Jack's Santa Monica
Introduction
This report covers the new partnership agreement between the
present lessee of Jack's Restaurant (formerly Al's Kitchen) on
the Santa Monica Pier, Mr. Jack Rosenfeld, and Mr. Keun H. Choi,
analyzes the new arrangement, presents the relevant lease sections,
and recommends City Council approval.
Background
On December 13, 1977 City Council approved Mr. Jack Rosenfeld as
the lessee of Al's Kitchen, taking over from Mrs. Joan Crowne.
Since then he has renovated and restored the restaurant. At this
time he plans on taking in a partner, Mr. Keun Hong Choi, who has
had considerable experience owning restaurants, (see confidential
exhibit "A ").
He has successfully operated a supermarket, four restaurants, and
presents a strong financial statement, (see confidential
exhibit "B ").
Analysis
The partnership agreement is a standard arrangement of equal
investment and equal return to the partners, with provision for a
surviving spouse.
There is a provision for amendment of the partnership agreement, in
which case City Council should reserve the right to approve or
6 j
MAY 2 3198
(2)
May 5, 1978
Partnership Agreement
disapprove any amendment. The City Attorney has read and approved
the partnership agreement
Applicable Lease Provisions
(see confidential exhibit "C ")
Lessee shall not assign, encumber, or otherwise transfer this
lease, or any right or interest hereunder, or in or to any of the
improvements or appurtenances, excluding trade fixtures, that
hereafter may be constructed or installed on the Premises, and
Lessee shall not sublet the Premises, improvements, or appurte-
nances in whole or in part without the prior written consent and
approval of Lessor. For purposes of this Article 13, assignment
and transfer shall include, but not be limited to, any transfer
of common or preferred stock, assignment for benefit of creditors,
or otherwise. No such assignment, encumbrance or other transfer,
whether voluntary or involuntary, by operation of law, under legal
process, through receivership or bankruptcy, or otherwise, and no
such subletting shall be valid or effective without such prior
written consent and approval. Any consent to one assignment,
subletting encumbrance, or other transfer of interest shall not be
deemed to be a consent to any subsequent assignment, subletting,
encumbrance, or transfer of interest, and Lessor's consent will
not unreasonably: be withheld. In granting its consent, Lessor
shall have the right to impose upon the assignee, sublessee,
encumbrancer, or transferee as condition to its consent, written
compliance to all terms, covenants, conditions and agreements in
this Lease.
(3)
May 5, 1978
Partnership Agreement
Recommendation
It is the recommendation of the staff that City Council approve
the partnership agreement between Keun H. Choi and Jack Rosenfeld
and recognize Mr. Choi as an equal lessee, and direct the City
Manager to execute the appropriate documents with the limitation
that should the partnership agreement be amended, Council reserves
the right to approve any amendments.
Prepared by: Jeremy Ferris
Peter Kipp
KEUN HONG CHOI
919 South Hudson Avenue
Los Angeles, California 90019
(213) 937 -0176
MAY 2 3 1978
SUMMARY Was born in Masan, Korea in 1949. While in high school, family immigrated
to Buenos Aires, Argentina where I lived for three years. During this
period of time, while attending school, was responsible for operation and
management of father's grocery store. In 1968, moved to Los Angeles
where I have successfully acquired, restructured, operated and profitably
sold the following businesses.
PROFESSIONAL EXPERIENCE
February, 1977 - November, 1977 Cho Sun Ok Restaurant
Los Angeles, California
OWNER
Reorganized, restaffed, developed and successfully operated this restaurant
located on 8th Street. Interviewed suppliers to assure their ability to deliver
quality, quantity, and meet cost /schedules. Handled all purchasing, maintained
perpetual inventory control, cost and price controls. Established portion controls.
Responsible for safety and sanitation. Established and enjoyed excellent customer
relations, resulting in increased business. Sold the restaurant at a profit.
December, 1976 - February, 1977 Big 7 Burger
Long Beach, California
PARTNER
Took over this closed business. Completely revamped, reorganized and
placed the business on a profit basis. At that time, sold the business for a
profit. Hired, trained, supervised and coordinated the efforts of 7 people.
Assured strict conformance to codes and regulations.
July- December, 1976
Golden Sandwich Shop
Los Angeles, California
OWNER
Selected site, purchased and installed all equipment. Hired, trained and
supervised personnel engaged in preparation and service of foods to the
general public. After successfully establishing and operating the business
at a profit, sold the establishment.
November, 1973 -July, 1976
The Buffeteria
Los Angeles, California
OWNER
Reorganized and operated this snack shop at a profit for a period of 3 years,
at which time I sold the business.
KELIN HONG CHOI Page Two
PROFESSIONAL EXPERIENCE (Continued)
April, 1972 September, 1973 Adlers Market
Los Angeles, California
OWNER /MANAGER
Purchased and successfully operated this supermarket with 15 employees.
Responsible for purchasing, stocking, inventory control, and administration
of the business, which I sold at a profit.
1966 - 1967
La Paloma Grocery
Buenos Aires,Argentina
MANAGER
While attending school, worked as manager of my father's grocery store
in Buenos Aires.
PERSONAL DATA
Date of Birth: 1949 Health: Excellent Married, 1 child
REFERENCES
WHOLESALERS
Business and personal references are available upon request.
The following firms are wholesalers from whom I obtained my supplies and
equipment:
Young Hoong Corp.
2632 South La Cienega Boulevard
Los Angeles, California Telephone: (213) 836 -5323
D. Y. Import Co., Inc.
1701 East 7th Street
Los Angeles, California 90021
Angelus Supply Co., Inc.
709 Terminal Street
Los Angeles, California 90021
Telephone: (213) 622 -0556
Telephone: (213) 627 -2231
Reference:
Contract No. 3024
(CCS)