HomeMy WebLinkAbout016 - 02/16/1999 - APPROVING THE TERMS OF THE LEASE AGREEMENT FOR 101 REMINGTON STREET, SUITES F, M, O AND Q ORDINANCE NO. 16, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE TERMS OF THE LEASE AGREEMENT FOR
101 REMINGTON STREET, SUITES F, M, O AND Q
WHEREAS,the City is leasing 3,794 square feet of office and work space at 101 Remington
Street, Fort Collins, Colorado (the "Property"), pursuant to a Lease Agreement dated January 8,
1999, for a term beginning February 1, 1999 between the City and the owner of the property, Jim
Stouffer (the "Lease Agreement"); and
WHEREAS, under the Lease Agreement, the gross annual rent paid by the City is $32,834
subject to a cost of living adjustment in the third year of up to 4%; and
WHEREAS,the Lease extends through January 31,2004,contingent upon the City's annual
appropriation of sufficient funds to meet the City's lease obligations; 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 to meet its
obligations for the first year of the Lease Agreement:. and
WHEREAS,in order for the Property to be exempt from taxation,Section 31-15-801,C.R.S.,
requires that the Lease 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 Lease Agreement
between the City and Jim Stouffer, dated January 8, 1999, for 101 Remington Street, Suites F, M,
O and Q,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 2nd day of
February,A.D. 1999 and to be presented for final passage on the 16th day of February,A.D. 1999.
l Z (_Jn
Mav_ or
ATTEST:
:�l A�l
City Clerk
Passed and adopted on final reading this 16th day of Fe A.D. 1999.
Ma)or
ATTEST:
City Clerk