HomeMy WebLinkAbout2010-024-05/04/2010-AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 200 WEST MOUNTAIN AVENUE, SUITE A FOR UP TO TWO YEAR RESOLUTION 2010-024
OF THE COUNCIL OF THE CITY.OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
200 WEST MOUNTAIN AVENUE, SUITE A FOR UP TO TWO YEARS AS PART OF
THE ROCKY MOUNTAIN INNOVATION INITIATIVE ("RMI2") PROGRAM
WHEREAS, the City 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 A (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 Rocky Mountain
Innovation Initiative Program("RMI2")and this Program has provided critical business assistance
to high tech startup companies in the Fort Collins community; and
WHEREAS, RMI2 wishes to increase its service by offering below market lease space to
their client companies; and
WHEREAS, the RM12 Program 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 portions of the Property to RMI2 and its clients for a
term of one year, with the option to renew for an additional year or until the new RMI2 building is
constructed and they vacate the Property; and
WHEREAS,RMI2 and its clients will continue their current lease payments for the duration
of their terms; and
WHEREAS,under Section 23-114 of the City Code,the City Council is authorized to lease
any and all interests in real property owned in the name of the City,provided that City 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 City Council hereby finds that leasing the Property under the terms
listed above is in the best interests for the City.
Section 2. That the City Manager be 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 Counc* the City,of Fort Collins this 4th
day of May A.D. 2010. j
i
L" May
ATT$ST:-
City'Clerk