HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 02/15/2000 - FIRST READING OF ORDINANCE NO. 20, 2000, APPROVING AGENDA ITEM SUMMARY ITEM NUMBER: 18
DATE: February 15, 2000
FORT COLLINS CITY COUNCIL STAFF:
Helen Matson
SUBJECT:
First Reading of Ordinance No. 20,2000,Approving the Terms of the City's Lease of the Building
at 405 Canyon Avenue.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT:
Adoption of this Ordinance authorizes the terms of the City's lease of 405 Canyon Avenue and will
permit the Latimer County Treasurer's Office to remove the leased property from the tax rolls in
accordance with C.R.S. Sections 31-15-801 and 802. If the leased property remains on the tax rolls,
the City would be responsible for paying the taxes.
EXECUTIVE SUMMARY:
In order for this property to remain tax exempt,state law requires that the Council approve the terms
of the lease by Ordinance.
Since December 1994,the City has been leasing the building at 405 Canyon Avenue(2,577 square
feet)for the Human Rights Office and the Neighborhood Resources Office.The previously approved
lease expired November 30, 1999. Staff has renegotiated the lease to continue for an additional five
years. The Lease Agreement commenced on January 1, 2000 and continues for successive annual
terms through December 31,2004,with the City having the option to terminate at each anniversary
date if sufficient funds are not budgeted. The rental for this facility is $2,630 per month, which
equates to $12.75/square foot. This rental will be in effect for the first two years of the lease. Each
of the remaining renewals terms will be increased by the annual Consumer Price Index. The City
will be responsible for the utilities,custodial and carpet services,snow removal,and insurance. The
Landlord is responsible for major building maintenance and ground maintenance.
ORDINANCE NO. 20, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE TERMS OF THE CITY'S LEASE OF
THE BUILDING AT 405 CANYON AVENUE
WHEREAS, the City intends to continue leasing 2,577 square feet of office space at 405
Canyon Avenue, Fort Collins, Colorado (the "Property"), pursuant to a Lease Agreement dated
December 15, 1999, between the City and the owners of the Property, Madge Goddard, Renee
Goddard and Mark Goddard(the"Lease Agreement"); and
WHEREAS, under the Lease Agreement,the gross annual rent is $32,856; and
WHEREAS,the original term of the Lease Agreement commenced on January 1,2000,and
terminates on the 31 st day of December, 2000, and will be automatically renewed by the City for
four one-year successive terms,contingent upon the annual appropriation of funds sufficient to meet
the City's obligations under the Lease Agreement; and
WHEREAS,in order for the Property to continue to be exempt from taxation,C.R.S. Section
31-15-801 requires that the Lease Agreement and the terms thereof be approved by ordinance by the
City Council; and
. WHEREAS,the Lease Agreement is presently on file with the office of the City Clerk; and
WHEREAS,the City Council wishes to approve the Lease Agreement by ordinance so that
the Property may be removed from the tax rolls.
NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Council hereby approves the Lease Agreement,which is on file and available
for public inspection in the Office of the City Clerk,the terms of which include an initial lease period
of one year with four one-year renewal terms, at a gross annual rent of$32,856, adjusted at the
commencement of the third renewal for inflation,contingent upon the annual appropriation of funds
sufficient to meet the City's obligations under the Lease Agreement.
Introduced, considered favorably on first reading, and ordered published this 15th day of
February, A.D. 2000, and to be presented for final passage on the 7th day of March, A.D. 2000.
Mayor
ATTEST:
City Clerk
•
Passed and adopted on final reading this 7th day of March, A.D. 2000.
Mayor
ATTEST:
City Clerk
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405 CANYON
BUILDING LEASE
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