HomeMy WebLinkAbout2008-040-05/06/2008-AUTHORIZING THE LEASE OF A PORTION OF CITY-OWNED PROPERTY LOCATED AT 200 WEST MOUNTAIN AVENUE, SUITE RESOLUTION 2008-040
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF A PORTION OF CITY-OWNED PROPERTY LOCATED
AT 200 WEST MOUNTAIN AVENUE, SUITES A AND B, 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,
Suites A and B (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 RMI1 Program, formerly
known as Fort Collins Technology Incubator, and this program has provided critical business
assistance to high tech startup companies in the Fort Collins community; and
WHEREAS, the RMI2 wishes to increase its service by offering below-market lease space
to its client companies; and
WHEREAS, the RMI2 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 portions of the Property to RMI1 clients for a term of
one year with the option to renew for one additional year,at a cost for the first year of$7/square foot
and for the second year at a cost of$8/square foot; and
WHEREAS, under Section 23-114(a) of the Code of the City of Fort Collins, the Council
is authorized to lease, for a definite term of two years or less, any and all interests in real property
owned in the name of the City, provided that the Council first finds, by resolution,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 on terms and conditions consistent with 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,including any necessary changes to the
legal description of the Property, as long as such changes do not materially increase the size or
change the character of the leased premises.
Passed and adopted at a regular meeting of the Cou i of the City of Fort Colli s this 6th
day of May A.D. 2008.
i
Mayor
ATTEST:
City Clerk