HomeMy WebLinkAbout080 - 06/06/2006 - AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 200 WEST MOUNTAIN AVENUE, SUITE C, FOR UP TO FIVE YE ORDINANCE NO. 080, 2006
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
200 WEST MOUNTAIN AVENUE, SUITE C, FOR UP TO FIVE YEARS
WHEREAS, the City of Fort Collins 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 C (the"Property"); and
WHEREAS, the City purchased this 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 Fort Collins Technology
Incubator(FCTI),formerlyknown as"Fort Collins Virtual Business Incubator Program,"which has
provided critical business assistance to high tech startup companies in the Fort Collins community;
and
WHEREAS, the City received a proposal from the FCTI in March 2004 to increase its
services by working with the City to offer below market lease space to its client companies; and
WHEREAS,on June 1,2004,the Council approved Resolution 2004-069,which authorized
the lease of the Property to FCTI and its clients for up to two years; and
WHEREAS, the FCTI will benefit the City by replacing primary jobs lost by citizens,
increasing the economy in the downtown area, and enhancing the sales tax base; and
WHEREAS, the City desires to lease a portion of the Property to FCTI for its Director for
a term of up to five years at no cost to the Fort Collins Technology Incubator; and
WHEREAS,the City desires to lease other portions of the Property to clients selected by the
FCTI for a term of one year, with the option to renew for up to two additional years at a lease rate
of$7/square foot for the first year, $8/square foot for the second year, and $9/square foot for the
third year; and
WHEREAS, under Section 23-114(a) of the Code of the City of Fort Collins, the Council
is authorized to lease for a term of up to five years any and all interests in real property owned in
the name of the City, provided that Council first finds 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 Property at 200 West Mountain
Avenue, Suite C, under the terms listed above is in the best interests for the City of Fort Collins.
Section 2. That the City Manager is authorized to execute such lease agreements consistent
with the terms of this Ordinance, 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.
Introduced, considered favorably on first reading, and ordered published this 16th day of
May, A.D. 2006, and to be presented for final passage on the 6th day of June, A.D. 2006.
Mayo
ATTEST:
S
City Clerk e;L y
Passed and adopted on final reading on the 6th day of June A.D. 2006.
Mayor
ATTEST:
f•
City Clerk