HomeMy WebLinkAbout1998-059-04/07/1998-AUTHORIZING THE SUBLEASE OF THE MINI LIBRARY SITE AT 132 TROUTMAN PARKWAY TO THE SALVATION ARMY RESOLUTION 98-59
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE SUBLEASE OF THE MINI LIBRARY SITE
AT 132 TROUTMAN PARKWAY TO THE SALVATION ARMY
WHEREAS, the City of Fort Collins currently leases 132 Troutman Parkway, more
particularly described in Exhibit"A,"attached hereto and incorporated herein by this reference (the
"Property"), for use as a Mini Library Facility, under a Lease Agreement dated January 30, 1995
(the "Lease Agreement"); and
WHEREAS,the City has no use for the Property. as it no longer operates the Mini Library
Facility,having opened in early 1998 the Harmony Library, to which the Mini Library books, staff
and equipment have been relocated; and
WHEREAS, in the Lease Agreement the City agreed to continue to lease the Property
through May, 2000, or pay a cancellation penalty of up to $47,245; and
WHEREAS, City staff has worked with a local real estate brokerage to search for and
negotiate with potential subtenants for the Property, in order to reduce the costs to the City
associated with the lease of the Property; and
WHEREAS, the Salvation Army has proposed to sublease the Property under the terms of
a sublease agreement extending through September, 1998, and
WHEREAS, the Salvation Army has agreed to pay to the City a monthly rent payment of
$3,500, along with any amount due for related common areas maintenance, which amount will
substantially offset the amount due from the City under the Lease Agreement; and
WHEREAS, City staff has determined that the proposed sublease of the Property will be
beneficial to the City, and represents the best opportunity for the City to sublease the Property; and
WHEREAS, under Section 23-114 of the Code of the City of Fort Collins, the Council is
authorized to lease 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. The sublease of the Property to the Salvation Army in accordance with the terms
of this Resolution is in the best interests of the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to enter into a sublease agreement
subleasing the Property to the Salvation Army, for the period ending September 30, 1998, for a
monthly rent of THREE THOUSAND FIVE HUNDRED DOLLARS ($3,500)plus common area
maintenance costs.
Passed and adopted at a regular meeting of the City Council held this 7th day of April, A.D.
1998.
ayor
ATTEST:
City Clerk