TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Department Director
SUBJECT:
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Commercial lease with Pringle Place, LLC for storage of City supplies
Ward(s): 2
Councilor(s): Andersen
Neighborhood(s): Morningside
Result Area(s): Good Governance; Safe Community
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ISSUE:
Shall the City Council authorize the City Manager to execute the attached lease with Pringle Place LLC?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached lease with Pringle Place, LLC.
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SUMMARY:
As a result of the water advisories in 2018, the City acquired a large supply of bottled water for emergency use. The remaining supply can be used for future events that cause a need for bottled water. Sufficient storage space is unavailable in City facilities. On December 10, 2018, Council authorized the City Manager to enter into a lease with Pringle Place, LLC (Lessor) for warehouse space in which to store the water. That lease expires on December 31, 2020, and it is necessary to execute a new lease to continue occupying the space.
FACTS AND FINDINGS:
Staff has come to terms on a lease (Lease) (Attachment 1) with Pringle Place, LLC (whose Member is J&S Morgan, LLC, (James and Susan Morgan, members)) for warehouse space located at 2558 Pringle Road SE, Suite E (Attachment 2).
Key terms of the Lase are stated below.
Commencement: January 1, 2021
Term: One year
Square Feet: 1,622
Rate: $10,800 annually
Renewal Options: Two one-year options
BACKGROUND:
Funding for the Lease will come from the Public Works Operations Administrative Fund.
Clint Dameron
Real Property Services Manager
Attachments:
1. Proposed Lease
2. Map