HomeMy WebLinkAbout020 - 03/07/2000 - APPROVING THE TERMS OF THE CITYS LEASE OF THE BUILDING AT 405 CANYON AVENUE ORDINANCE NO. 20, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE TERMS OF THE CITY'S LEASE OF
THE BUILDING AT 405 CANYON AVENUE
WHEREAS, the City intends to continue leasing 2,577 square feet of office space at 405
Canyon Avenue, Fort Collins, Colorado (the "Property"), pursuant to a Lease Agreement dated
December 15, 1999, between the City and the owners of the Property, Madge Goddard, Renee
Goddard and Mark Goddard (the "Lease Agreement"); and
WHEREAS, under the Lease Agreement, the gross annual rent is $32,856; and
WHEREAS,the original term of the Lease Agreement commenced on January 1,2000,and
terminates on the 31st day of December, 2000, and will be automatically renewed by the City for
four one-year successive terms,contingent upon the annual appropriation of funds sufficient to meet
the City's obligations under the Lease Agreement; and
WHEREAS,in order for the Property to continue to be exempt from taxation,-C.R.S.Section
31-15-801 requires that the Lease Agreement and the terms thereof 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 Lease Agreement,which is on file and available
for public inspection in the Office of the City Clerk,the terms of which include an initial lease period
of one year with four one-year renewal terms, at a gross annual rent of$32,856, adjusted at the
commencement of the third renewal for inflation,contingent upon the annual appropriation of funds
sufficient to meet the City's obligations under the Lease Agreement.
Introduced, considered favorably on first reading, and ordered published this 15th day of
February, A.D. 2000, and to be presented for final passage on the 7th day of March, A.D. 2000.
Mayor
AT
TE(S�T':
_�►aeil
City Clerk
Passed and adopted on final reading this 7th day of March, A.D. 2000.
`Mayor
ATTEST:
City Clerk laver 4m