HomeMy WebLinkAbout070 - 05/21/2002 - APPROVING THE TERMS OF THE AGREEMENT TO AMEND LEASE AGREEMENT FOR 101 REMINGTON STREET, SUITE P ORDINANCE NO. 070, 2002
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE TERMS OF THE AGREEMENT
TO AMEND LEASE AGREEMENT FOR
101 REMINGTON STREET, SUITE P
WHEREAS, the City has been leasing 3,794 square feet of office and work space and is
increasing its leased space by 645 square feet at 101 Remington Street,Fort Collins, Colorado (the
"Property), pursuant to an Agreement to Amend Lease Agreement dated April 5, 2002, for a term
beginning April 2, 2002 between the City and the owner of the property, Bohemian Real Estate
Corporation (the "Amendment Agreement"); and
WHEREAS, under this Amendment Agreement, the gross annual rent paid by the City is
$4,620 and will be increased 3% annually; and
WHEREAS, the Lease and the Amendment Agreement extend through January 31, 2004,
contingent upon the City's annual appropriation of sufficient funds to met the City's lease
obligations; and
WHEREAS, all other terms of the Lease Agreement and the Amendment remain the same;
and
WHEREAS, sufficient funds have been budgeted and appropriated by the City to meet is
obligations for the first year of the Amendment Agreement; and
WHEREAS,in order for the Property to be exempt from taxation,Section 31-15-801,C.R.S.,
requires that the Amendment Agreement and the terms thereof must be approved by ordinance by
the City Council; 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 Amendment
Agreement between the City and Bohemian Real Estate Corporation, dated April 5, 2002, for 101
Remington Street,Suite P,a copy of which is on file in the office of the City Clerk and available for
public inspection.
Introduced,considered favorably on first reading,and ordered published this 7th day of May,
A.D. 2002 and to be presented for final passage on the 21 st day of May,,,A.D. 2002.
ayor
ATTEST:
IiLAIek
City Clerk
Passed and adopted on final reading this 21 st day of May, A.D. 2002.
Mayor Pro Tone
ATTEST:
ZA-
City Clerk INIXel� �`