HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 08/19/2008 - RESOLUTION 2008-077 AUTHORIZING THE LEASE OF 913 S ITEM NUMBER: 31
AGENDA ITEM SUMMARY DATE: August 19, 2008
FORT COLLINS CITY COUNCIL STAFF: Helen Matson
SUBJECT
Resolution 2008-077 Authorizing the Lease of 913 Square Feet of City-owned Property Located at
200 West Mountain Avenue, Suite A, For Up to Two Years as Part of the Rocky Mountain
Innovation Initiative ("RMII") Program.
RECOMMENDATION
Staff recommends the adoption of the Resolution.
FINANCIAL IMPACT
Rent collected from this lease is estimated to be approximately $6,000 per year in Miscellaneous
Revenue in the General Fund.
EXECUTIVE SUMMARY
Since the summer of 2004, the City has leased space to RMI= and its participating companies.
Currently, RMIZ leases space in Suites A and C at 200 West Mountain Avenue and 321 Maple
Street. This Resolution is a request for authorization to amend the lease between RMI2 and the City
to include the 913 square feet of conference room and restroom space in Suite A.
BACKGROUND
In May 2008, City Council authorized the lease of 200 West Mountain Avenue, Suite A, to RMI1
and its companies. At that time, the large conference room and the restrooms adjacent to the
conference room were not part of the lease. This area of the property was originally intended for
other City uses; however, the City no longer needs this space. RMIZ and its companies are
frequently in need of a large conference room for conferences with their clients and leasing the
conference room to RMI2 will fill its needs.
ATTACHMENTS
1. Location Map.
200 W . Mountain Ave - Ste A
Conference Room Lease
Location Map
LaPorte Avenue
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Larimer Ceu my
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City of Ft Collins
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W Mountain Avenue
Latimer County Courthouse
Suite A Location
RESOLUTION 2008-077
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF 913 SQUARE FEET OF CITY-OWNED
PROPERTY LOCATED AT 200 WEST MOUNTAIN AVENUE, SUITE A,
FOR UP TO TWO YEARS AS PART OF THE ROCKY
MOUNTAIN INNOVATION INITIATIVE ("RMI211) PROGRAM
WHEREAS, the City is the owner of the property legally described as a portion of Lot 2,
Replat Lots 1-49,Block 31,Fort Collins,Colorado and also known as 200 West Mountain Avenue,
Suite A (the "Property"); and
WHEREAS, the City purchased the Property for the Civic Center Master Plan and has not
yet finalized specific plans for the Property; and
WHEREAS, since 1998, the City has supported the efforts of the RMI2 Program, formerly
known as Fort Collins Technology Incubator, and this program has provided critical business
assistance to high tech startup companies in the Fort Collins community; and
WHEREAS,in May 2008,pursuant to Resolution 2008-040,the Council authorized the lease
of a portion of the Property to RMI1 clients; and
WHEREAS, RMI1 and its clients are in need of conference room space in close proximity
to the portion of Property they are currently leasing from the City; and
WHEREAS, approximately 913 square feet of conference room and restroom space is
available for lease on the Property (the "Premises"); and
WHEREAS, the City desires to lease the Premises to RM12 for a term of one year with the
option to renew for one additional year, at a cost for the first year of$7/square foot and for the
second year at a cost of$8/square foot; and
WHEREAS, Section 23-114 of the Code of the City of Fort Collins authorizes the Council
to lease, for a definite term of two years or less, any and all interests in real property owned in the
name of the City, provided that the Council first finds, by resolution, that the lease is in the best
interests of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council hereby finds that leasing the Premises under the terms listed
above is in the best interests for the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a lease agreement for
the Premises, consistent with the terms of this Resolution, together with such additional terms and
conditions as the City Manager, in consultation with the City Attorney, determines to be necessary
and appropriate to protect the interests of the City, including any necessary changes to the legal
description of the Premises, as long as such changes do not materially increase the size or change
the character of the leased premises.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 19th
day of August A.D. 2008.
Mayor
ATTEST:
City Clerk