What’s new: A lease agreement for the future Storz Brewing Co. restaurant was approved by the Omaha City Council on Tuesday.

The details: The lease for the city-owned property will run for 50 years, expiring on Dec. 31, 2063. The operators will pay the city rent, starting at about $60,000 a year, and also pay roughly $19,000 in back taxes on the former Rick’s Cafe Boatyard property. The city has waived the lease payment until July 1, 2014.

What we already knew: Descendants of the historic brewery’s owners will revive the Storz name and transform the former Rick’s Cafe into the Storz Trophy Room Grill & Brewery.

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