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HomeMy WebLinkAbout2004-069-06/01/2004-AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 200 WEST MOUNTAIN AVENUE, SUITE C RESOLUTION 2004-069 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 200 WEST MOUNTAIN AVENUE, SUITE C 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 the 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 Virtual Business Incubator Program and this program has provided critical business assistance to high tech startup companies in the Fort Collins community; and WHEREAS, the City has received a proposal from the Fort Collins Virtual Business Incubator Program to increase its service by offering below market lease space to its client companies; and WHEREAS, this "Incubator with Walls" program will benefit the City by replacing primary jobs lost by citizens, thereby 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 Fort Collins Virtual Business Incubator for office space for its director for a term of one year, with the option to renew for an additional year, at no cost to the Fort Collins Virtual Business Incubator; and WHEREAS, the City desires to lease other portions of the Property to clients selected by the Fort Collins Virtual Business Incubator for a term of one year, with the option to renew for an additional year, at a cost for the first year of $7/per square foot and for the second year at a cost of$8/per square foot; 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. That the Council hereby finds that leasing the Property under the terms listed above is in the best interests for the City of Fort Collins. Section 2. That the City Manager is hereby authorized to execute such lease agreements for the Property, consistent with the terms of this Resolution, 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. Passed and adopted at a regular meeting of the City Council held this 1st day of June, A.D. 2004. G Mayor ATTEST: Dt City Clerk