HomeMy WebLinkAbout023 - 03/21/1995 - APPROVING LEASE AGREEMENT FOR 405 CANYON ORDINANCE NO. 23, 1995
OF THEC-01LNC L-QE THE CITY OF FORT COLLINS
APPROVING THE TERMS OF THE LEASE AGREEMENT FOR
405 CANYON AVENUE
WHEREAS,the City is presently leasing 2,577 square feet of office and meeting space at 405
Canyon Avenue,Fort Collins,Colorado(the'Property"),pursuant to a Lease Agreement entered into
on December 1, 1994, between the City and the owners of the Property, Claire and Madge Goddard
(the "Lease Agreement"); and
WHEREAS, under the Lease Agreement, the base annual rent paid by the City is $27,708,
which amount increases by $.50 per square foot per year thereafter; and
WHEREAS, the current term of the Lease Agreement expires on November 30, 1995; and
WHEREAS, the City may extend the Lease Agreement for up to four additional one-year
terms; and
WHEREAS, sufficient funds have been budgeted and appropriated by the City for the first
year of the Lease Agreement; and
WHEREAS, in order for the Property to be exempt from taxation, the Latimer County
Assessor requires that the Lease Agreement and the terms thereof must 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 terms and conditions of the Lease Agreement,
which terms include an initial rental period of one year from December 1, 1994 through November
30, 1995, with the option to extend for four additional one-year terms, contingent upon the annual
appropriation of funds sufficient to meet the City's obligations under the Lease Agreement for each
additional term.
Introduced, considered favorably on first reading, and ordered ublished this 7th day of
March, A.D. 1995, and to be presented for final passage on the da f March, 5.
Mayor `
ATTEST:
City Clerk
Passed and adopted on final reading this 2;ayor
M 1995.
ATTEST:
City Clerk