HomeMy WebLinkAbout042 - 05/05/2009 - AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 214 NORTH HOWES STREET, ALONG WITH RELATED PARKING R ORDINANCE NO. 042, 2009
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
214 NORTH HOWES STREET, ALONG WITH RELATED PARKING RIGHTS
AT 220 NORTH HOWES STREET, FOR UP TO FIVE YEARS
WHEREAS,the City is the owner of the property legally described as Lots 34 and 35,Block
32,City of Fort Collins,Colorado,commonly known as 214 North Howes Street,and Lot 33,Block
32, City of Fort Collins,Colorado,a portion of the property commonly known as 220 North Howes
Street (collectively, the "Property"); and
WHEREAS, on September 4, 2007, the City Council approved Ordinance No. 098, 2007,
authorizing the lease of office space in the building at 214 North Howes and the use of nine parking
spaces in the lot at 220 North Howes(the"Lease Premises")for up to five years at a minium annual
rental of$61,036, based on $10.50 per square foot; and
WHEREAS, due to the current economic situation, the tenant in the Lease Premises wishes
to reduce its costs by modifying its lease to make its portion of the Lease Premises smaller; and
WHEREAS,although the current tenant intends to continue paying rent based on$10.50 per
square foot, City staff would like the option of charging a minimum rent of$9 per square foot for
the Lease Premises; and
WHEREAS, staff is asking for the City Council's approval of these new lease terms for the
Lease Premises because reducing the tenant's leased space or the amount of rent charged would
reduce the minimum annual rental for the Lease Premises below the level that the City Council
previously authorized; and
WHEREAS,the remaining portion of the Lease Premises not being used by the current tenant
could be used by the City or leased to another party; and
WHEREAS,the other terms and conditions of leasing the Lease Premises would remain as
described in Ordinance No. 098, 2007; and
WHEREAS,under Section 23-111(a)of the City Code,the City Council is authorized to sell,
convey or otherwise dispose of any and all interests in real property owned in the name of the City,
provided that the City Council first finds, by ordinance, that such disposition is in the best interests
of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That leasing the Lease Premises located at 214 and 220 North Howes Street
as provided herein is in the best interests of the City.
Section 2. That the City Manager is hereby authorized to execute a lease agreement or
amendment to the existing lease agreement for the Lease Premises,consistent with the terms of this
Ordinance,together with such additional terms and conditions as the City Manager, in consultation
with the City Attorney, deems necessary and appropriate to protect the interests of the City or to
effectuate the purposes of this Ordinance,including,but not limited to,any necessary changes to the
legal description of the Lease Premises, so long as such changes do not materially increase the size
or change the character of the property to be leased.
Introduced, considered favorably on first reading, and ordered published this 21st day of
April, A.D. 2009, and to be presented for final passage on the St a of May, A.D. 2009.
Mayor
ATTEST:
J�
City Clerk
Passed and adopted on final reading on the 5th day of y, A.D. 2009.
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May
ATTEST: 7.
- UL X"
-City Clerk