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HomeMy WebLinkAbout52-00 RESOLUTIONRESOLUTION NO. 52-00 MICROFILMED A RESOLUTION APPROVING A LEASE AGREEMENT BETWEEN THE CITY OF FAYETTEVILLE AND THE ARKANSAS TEACHER RETIREMENT SYSTEM, BY ITS AGENT, THE HATHWAY GROUP, FOR 27 SPACE PARIUNG LOT LOCATED EAST OF BLOCK AVENUE AND SOUTH OF ROCK STREET. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS Section 1. Tharthe City Council hereby approves a lease agreement between the City of Fayetteville and the Arkansas Teacher Retirement System, by its agent, the Hathway Group, for 27 space parking lot located east of Block Avenue and south of Rock Street; and authorizes the Mayor and City Clerk to execute said lease. A copy of the lease agreement is attached hereto marked Exhibit "A" and made a part hereof. PASSED AND APPROVED this 18th day of April , 2000. , 7, • .7. v. 4* APPROVED Heather Woodruff, City Cler By: ed Hanna, Mayor NAME OF FILE: CROSS REFERENCE: Resolution No. 52-00 • 04/18/00 Resolution No. 52-00 04/18/00 Exhibit "A" (Lease Agreement) 12/29/00 First Amendment to Lease Agreement 03/21/00 Letter to Apryl Okoroafor from Jill R. Bryant, Property Manager, The Hathaway Group 04/18/00 Staff Review Form 03/29/00 Memo to Mayor Hanna from Apryl Okoroafor, Parking Management Coordinator, regarding Arkansas Teacher Retirement System Lease Contract 04/21/00 Memo to Apryl Okoroafor, Parking Management, from Heather Woodruff, City Clerk 12/07/00 Letter to Apryl Okoroafor, Parking Management, from Jill R. Bryant, Property Manager, The Hathaway Group 12/12/00 Staff Review Form 12/20/00 Memo to Sharon Crosson, Utilities Manager, from Heather Woodruff, City Clerk 12/17/01 Second Amendment to Lease Agreement 12/19/01 Letter to Sharon L Crosson, Parking Management, from Sally H. Mears, Property Management Department, The Hathaway Group NOTES: 1941 -1 • gree(19A/Snts weetremen t TiTA 000 LEASE R"EXilfalT A This Agreement, made and entered into this day of -March 2000, by and between the Arkansas Teacher Retirement System by its Agent, The Hathaway Group, Inc., hereinafter called "Lessor," and the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee." *ITNESSETH: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by the Lessee as obligations to the Lessor, the Lessor lets, leases and demises unto Lessee, subject to the terms and conditions contained herein, the following described property situated in Washington County, Arkansas: 27 parking spaces in the parking lot (the "Lot") located east of Block Avenue and south of Rock Street, described more specifically as follows: Commencing at the Northwest Comer of said Block 4 1; thence along the west line of said Block 41 S00-30-1 1W 90.00 feet for the Point of Beginning; thence leaving the west line of said Block 41 S89 -41-51E 59.00 feet; thence S71 -45-02E 35.70 feet; thence S89 -41-51E 41.00 feet; thence 500 -s0 -11W 82.15 feet; thence N89 -20-27W 134.00 feet to the west line of said Block 41; thence along the west line of said Block 41 N00-3 1 -I I E 92.32 feet to the Point of Beginning, containing 11,788 square feet, more or less. To have and to hold said premises unto the Lessee for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. 2. Term. This term shall commence on January 1, 2000, and shall extend until December 31, 2000. 'Thereafter, subject to budget approval, the term shall run from month to month and shall terminate upon 60 days written notice by either party. 3. Rent Lessee shall pay as rent for said premises the amount of $25.00 per month for each space. Monthly installments shall be remitted on or before the 15th day of each month for the succeeding monthly rental period. 4. Signage. Lessee may erect signage, at Lessee's cost, on the subject property for the purposes of identification of the property and conveying restrictive uses. Upon termination, Lessee • will remove the signs, at Lessee's Cost, and repair all damage. 5. Miscellaneous. Should Arkansas Teacher Retirement System by its agent The Hathaway Group require parking spaces for the purpose of providing parking to tenants of their property located at 1 East Center, Fayetteville, AR, currently known as Bank of America Plaza, beyond the number of allocable spaces in the Lessor's parking lot immediately north of the subject property, the Lessee agrees to provide, at no cost, parking in the City's parking garage Xi L.67]7.5 AGRGE on Meadow Street or a suitable alternative agreeable to the Lessor. If Lessor, however, for any reasons does not accept Lessee's alternative parking location, Lessor shall have the right to terminate this Lease upon 60 days written notice to Lessee. 6. Indemnification. Lessee shall defend, indemnify and hold harmless Lessor from and against all claims, demands, liabilities, causes of action, suits, judgements, and expenses (including reasonable attorneys' fees) for any injury to or death of any person or persons or the damage to or theft, destruction, loss or loss of any use of any property caused by the casualty or theft arising from the Lessee's operation and use of the Lot. This indemnity shall survive termination of the Agreement. This indemnification in no way waives or abrogates Lessee's right to tort immunity under Arkansas statutes. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the date written above. LESSOR: Arkansas Teacher Retirement System, By its Agent JJ Hathaway Group Senior Vice President AT talk By nut Title: WriariA LESSEE: City of Fayetteville, Arkansas By: ATTEST: By: -a4t) 44ter4e:V Title: City Clerk 1-10Qudecial 15* .1--Chst" L.PeUe_ uStAinalt I caoz aczoikci 0 A "ThadtaA ckla 1(2.7?6 (ResotOion 52-00 A LEASE This Agreement, Agreement, made and entered into this day of M.& -eh 2000, by and between the Arkansas Teacher Retirement System by its Agent, The Hathaway Group, Inc., hereinafter called "Lessor," and the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee." • WITNESSETH: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by the Lessee as obligations to the Lessor, the Lessor lets, leases and demises unto Lessee, subject to the terms and conditions contained herein, the following described property situated in Washington County, Arkansas: 27 parking spaces in the parking lot (the "Lot") located east of Block Avenue and south of Rock Street, described more specifically as follows: Commencing at the Northwest Comer of said Block 4 I; thence along the west line of said Block 41 500-30-1 IW 90.00 feet for the Point of Beginning; thence leaving the west line of said Block 41 589 41 51E 59.00 feet; thence S71 -45-02E 35.70 feet; thence S89 -41-51E 41.00 feet; thence 500 -s0 -11W 82.15 feet; thence N89 -20-27W 134.00 feet to the west line of said Block 41; thence along the west line of said Block 41 N00-3 1 -1 I E 92.32 feet to the Point of Beginning, containing 11,788 square feet, more or less. To have and to hold said premises unto the Lessee for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. 2. Term. This term shall commence on January 1, 2000, and shall extend until December 31, 2000. Thereafter, subject to budget approval, the term shall run from month to month and shall terminate upon 60 days written notice by either party. 3. Rent. Lessee shall pay as rent for said premises the amount of $25.00 per month for each space. Monthly installments shall be remitted on or before the 15th day of each month for the succeeding monthly rental period. 4. Signage. Lessee may erect signage, at Lessees cost, on the subject property for the purposes of identification of the property and conveying restrictive uses. Upon termination, Lessee will remove the signs, at Lessee's Cost, and repair all damage. 5. Miscellaneous Should Arkansas Teacher Retirement System by its agent The Hathaway Group require parking spaces for the purpose of providing parking to tenants of their property located at I East Center, Fayetteville, AR, currently known as Bank of America Plaza, beyond the number of allocable spaces in the Lessor's parking lot immediately north of the subject property, the Lessee agrees to provide, at no cost, parking in the City's parking garage .m••• on Meadow Street or a suitable alternative agreeable to the Lessor. If Lessor, however, for any reasons does not accept Lessee's alternative parking location, Lessor shall have the right to terminate this Lease upon 60 days written notice to Lessee. 6. Indemnification. Lessee shall defend, indemnify and hold harmless Lessor from and against all claims, demands, liabilities, causes of action, suits, judgements, and expenses (including reasonable attomeysfees) for any injury to or death of any person or persons or the damage to or theft, destruction, loss or loss of any use of any property caused by the casualty or theft arising from the Lessee's operation and use of the Lot. This indemnity shall survive termination of the Agreement. This indemnification in no way waives or abrogates Lessee's right to tort immunity under Arkansas statutes. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the date written above. LESSOR: Arkansas Teacher Retirement System, By its Agent T Hathaway Group LESSEE: City of Fayetteville, Arkansas By: By: ohn nc Seni. Vice President mfre/Akfrtc— Mayor ATTEST: ATTEST: By: By:,.>�&tI /i/cfroe/ Title: Title: City Clerk LEASE This Agreement, made and entered into this /1 day of tch 2000, by and between the Arkansas Teacher Retirement System by its Agent, The Hathaway Group, Inc., hereinafter called "Lessor," and the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee." WITNESSETH: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by the Lessee as obligations to the Lessor, the Lessor lets, leases and demises unto Lessee, subject to the terms and conditions contained herein, the following described property situated in Washington County, Arkansas: 27 parking spaces in the parking lot (the "Lot") located east of Block Avenue and south of Rock Street, described more specifically as follows: Commencing at the Northwest Comer of said Block 4 1; thence along the west line of said Block 41 S00-30-1 1W 90.00 feet for the Point of Beginning; thence leaving the west line of said Block 41 S89 -41-51E 59.00 feet; thence S71 -45-02E 35.70 feet; thence S89 -41-51E 41.00 feet; thence 500-s0-1 1W 82.15 feet; thence N89 -20-27W 134.00 feet to the west line of said Block 41; thence along the west line of said Block 41 N00-3 1 -11 E 92.32 feet to the Point of Beginning, containing 11,788 square feet, more or less. To have and to hold said premises unto the Lessee for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. 2. Term. This term shall commence on January 1,2000, and shall extend until December 31, 2000. Thereafter, subject to budget approval, the term shall run from month to month and shall terminate upon 60 days written notice by either party. 3. Rent. Lessee shall pay as rent for said premises the amount of $25.00 per month for each space. Monthly installments shall be remitted on or before the 15th day of each month for the succeeding monthly rental period. 4. Signage. Lessee may erect signage, at Lessee's cost, on the subject property for the purposes of identification of the property and conveying restrictive uses. Upon termination, Lessee will remove the signs, at Lessee's Cost, and repair all damage. 5. Miscellaneous. Should Arkansas Teacher Retirement System by its agent The Hathaway Group require parking spaces for the purpose of providing parking to tenants of their property located at I East Center, Fayetteville, AR, currently known as Bank of America Plan, beyond the number of allocable spaces in the Lessor's parking lot immediately north of the subject property, the Lessee agrees to provide, at no cost, parking in the City's parking garage • on Meadow Street or a suitable alternative agreeable to the Lessor. If Lessor, however, for any reasons does not accept Lessee's alternative parking location, Lessor shall have the right to terminate this Lease upon 60 days written notice to Lessee. 6. Indenrmification. Lessee shall defend, indemnify and hold harmless Lessor from and against all claims, demands, liabilities, causes of action, suits, judgements, and expenses (including reasonable attomeys' fees) for any injury to or death of any person or persons or the damage to or theft, destruction, loss or loss of any use of any property caused by the casualty or theft arising from the Lessee's operation and use of the Lot. This indemnity shall survive termination of the Agreement. This indemnification in no way waives or abrogates Lessee's right to tort immunity under Arkansas statutes. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the date written above. LESSOR: Arkansas Teacher Retirement System, By its Agent The Hathaway Group By: ncai Senior Vice President ATTEST: LESSEE: City of Fayetteville, Arkansas By: M yor ATTEST: By: By: 4.2a7,7Za-t Title: Title: City Clerk LEASE This Agreement, made and entered into this d5-15( day of August, 1999, by and between the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee" and Argora Properties, L.P. hereinafter called "Lessor" Witnesseth: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by the Lessee as obligations to the Lessor, the Lessor lets, leases and demises unto Lessee, subject to the terms and conditions contained herein, the following described property situated in Washington, County, Arkansas: 27 space parking lot (the "Lot") located east of Block Avenue and south of Rock Street, described more specifically as follows: Commencing at the Northwest Corner of said Block 41; thence along the west line of said Block 41 S00 -30-11W 90.00 feet for the Point of Beginning; thence leaving the west line of said Block 41 S89 -41-51E 59.00 feet; thence S71 -45-02E 35.70 feet; thence S89 -41-51E 41.00 feet; thence 500-30-11W 82.15 feet; thence N89 -20-27W 134.00 feet to the west line of said Block 41; thence along the west line of said Block 41 N00 -31-11E 92.32 feet to the Point of Beginning, containing 11,788 square feet, more or less. To have and to hold said premises unto the said Lessee for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. nritA 2. Term. This term shall commence on August pet) , 1999, and shall extend until December 31, 1999. Thereafter, subject to budget approval, the term shall run from month to month and shall terminate upon 60 days written notice by either party. 3. Rent. Lessee shall pay as rent for said premises the amount of $25.00 per month for each space. Monthly installments shall be remitted on or before the 15th day of each month for the succeeding monthly rental period. 4. Signage. Lessee may erect signage, at Lessee's cost, on the subject property for the purposes of identification of the property and conveying restrictive uses. Upon termination, Lessee will remove the signs, at Lessee's Cost, and repair any damage. 5. Miscellaneous. Should Argora Properties, L.P. require parking spaces for the purpose of providing parking to tenants of their property located at 1 East Center, Fayetteville, AR, currently known as Bank of America Plaza, beyond the number of allocable spaces in the lessor's parking lot immediately north of the subject property, the Lessee agrees to provide, at no cost, parking in the City's parking garage on Meadow Street or a suitable alternative agreeable to the Lessor. 6. Indemnificationlessee shall defend, indemnify and hold halliss Lessor from and against all claims, demands, liabilities, causes of action, suits, judgements, and expenses (including reasonable attorneys' fees) for any injury to or death of any person or persons or the damage to or theft, destruction, loss or loss of any use of any property caused by the casualty or theft arising from Lessee's operation and use of the Lot. This indemnity shall survive termination of the Agreement. This indemnification in no way waives or abrogates Lessee's right to tort immunity under Arkansas statutes. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on this 025:Cle day of August, 1999. LESSEE: City of Fayetteville, Arkansas By: 1/1/frvvY M yor ATTEST: By: get.) Xa7/1 City Clerk LESSOR: Argora Properties, L.P., A Delaware limited partnership By: Limestone Investment Company, LLC a Texas limited liability company general partner By: Presidio Investments, Ltd. A Texas limited partnership its sole member By: Centenary Partners Ltd. A Texas limited partnership its general partner • By: Continental Star Investments, Inc. its general partner ATTEST: By: Title: asd- ei„.94 Michael G. Loftis President - -k\ 4 • LEASE This Agreement, made and entered into this h? day ofMarch 2000, by and between the Arkansas Teacher Retirement System by its Agent, The Hathaway Group, Inc , hereinafter called "Lessor," and the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee? WITNESSETH: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by the Lessee as obligations to the Lessor, the Lessor lets, leases and demises unto Lessee, subject to the terms and conditions contained herein, the following described property situated in Washington County, Arkansas: 27 parking spaces in the parking lot (the "Lot") located east of Block Avenue and south of Rock Street, described more specifically as follows: Conunencing at the Northwest Comer of said Block 4 1; thence along the west line of said Block 41 S00-30-1 1W 90.00 feet for the Point of Beginning; thence leaving the west line of said Block 41 S89 -41-51E 59.00 feet thence S71 -45-02E 35.70 feet thence S89 -41-51E 41.00 feet; thence 500-s0-1 1W 82.15 feet thence N89 -20-27W 134.00 feet to the west line of said Block 41; thence along the west line of said Block 41 NO0-3 1 -1 I E 9232 feet to the Point of Beginning, containing 11,788 square feet, more or less. To have and to hold said premises unto the Lessee for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. 2. Term. This term shall commence on January 1,2000, and shall extend until December 31, 2000. Thereafter, subject to budget approval, the term shall run from month to month and shall terminate upon 60 days written notice by either party 3. Rent. Lessee shall pay as rent for said premises the arnount of $25.00 per month for each space. Monthly installments shall be remitted on or before the 15th day of each month for the succeeding monthly rental period. 4. Signage. Lessee may erect signage, at Lessee's cost, on the subject property for the purposes of identification of the property and conveying restrictive uses. Upon termination, Lessee will remove the signs, at Lessee's Cost, and repair all damage. 5. Miscellaneous. Should Arkansas Teacher Retirement System by its agent The Hathaway Group require parkmg spaces for the purpose of providmg parking to tenants of their property located at I East Center, Fayetteville, AR, currently known as Bank of America Plaza, beyond the number of allocable spaces in the Lessor's parking lot immediately north of the subject property, the Lessee agrees to provide, at no cost, parking in the City's parking garage on Meadow Street or a suitable alternative agreeable to the Lessor. If Lessor, however, for any reasons does not accept Lessee's alternative parking location, Lessor shall have the right to terminate this Lease upon 60 days written notice to Lessee. 6. Indemnification. Lessee shall defend, indemnify and hold harmless Lessor from and against all claims, demands, liabilities, causes of action, suits, judgements, and expenses (including reasonable attorneys' fees) for any injury to or death of any person or persons or the damage to or theft, destruction, loss or loss of any use of any property caused by the casualty or theft arising from the Lessee's operation and use of the Lot. This indemnity shall survive termination of the Agreement. This indemnification in no way waives or abrogates Lessee's right to tort immunity under Arkansas statutes. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the date written above. LESSOR: Arkansas Teacher Retirement LESSEE: City of Fayetteville, Arkansas System, By its Agent Th Hathaway Group By: By: Senior Vice President ATTEST: By: By: M yor ATTEST: Title: Title: City Clerk (5 cuitice-A)+- C") -1/4c:( ,N -c • 3 1 ) ci-pc)c • LEASE This Agreement, made and entered into this ce5-114 day of August, 1999, by and between the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee" and Argora Properties, L.P. hereinafter called "Lessor" Witnesseth: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by the Lessee as obligations to the Lessor, the Lessor lets, leases and demises unto Lessee, subject to the terms and conditions contained herein, the following described property situated in Washington, County, Arkansas: 27 space parking lot (the "Lot") located east of Block Avenue and south of Rock Street, described more specifically as follows: Commencing at the Northwest Corner of said Block 41; thence along the west line of said Block 41 S00 -30-11W 90.00 feet for the Point of Beginning; thence leaving the west line of said Block 41 S89 -41-51E 59.00 feet; thence S71 -45-02E 35.70 feet; thence S89-41 51E 41.00 feet; thence 500-30-11W 82.15 feet; thence N89 -20-27W 134.00 feet to the west line of said Block 41; thence along the west line of said Block 41 N00 -31-11E 92.32 feet to the Point of Beginning, containing 11,788 square feet, more or less. To have and to hold said premises unto the said Lessee for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. 2. Term. This term shall commence on August ‘95499, and shall extend until December 31, 1999. Thereafter, subject to budget approval, the term shall run from month to month and shall terminate upon 60 days written notice by either party. 3. Rent. Lessee shall pay as rent for said premises the amount of $25.00 per month for each space. Monthly installments shall be remitted on or before the 15th day of each month for the succeeding monthly rental period. 4. Signage. Lessee may erect signage, at Lessee's cost, on the subject property for the purposes of identification of the property and conveying restrictive uses. Upon termination, Lessee will remove the signs, at Lessee's Cost, and repair any damage. 5. Miscellaneous. Should Argora Properties, L.P. require parking spaces for the purpose of providing parking to tenants of their property located at 1 East Center, Fayetteville, AR, currently known as Bank of America Plaza, beyond the number of allocable spaces in the lessor's parking lot immediately north of the subject property, the Lessee agrees to provide, at no cost, parking in the City's parking garage on Meadow Street or a suitable alternative agreeable to the Lessor. • 1 6. Indemnificationtsee shall defend, indemnify and hold harn ess Lessor from and against all claims, demands, liabilities, causes of action, suits, judgements, and expenses (including reasonable attorneys' fees) for any injury to or death of any person or persons or the damage to or theft, destruction, loss or loss of any use of any property caused by the casualty or theft arising from Lessee's operation and use of the Lot. This indemnity shall survive termination of the Agreement. This indemnification in no way waives or abrogates Lessee's right to tort immunity under Arkansas statutes. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on this 0254"C— day of August, 1999. LESSEE:City of Fayetteville, Arkansas M(yor By: ATTEST: By• A‘YoWttil City Clerk LESSOR: Argora Properties, L.P., A Delaware limited partnership By: Limestone Investment Company, LLC a Texas limited liability company general partner By: Presidio Investments, Ltd. A Texas limited partnership its sole member Br Centenary Partners Ltd. A Texas limited partnership its general partner By: Continental Star Investments, Inc. its general partner ATTEST By Title: ailed Michael G. Loftis President - 113(VA j&t/MP r 6 FIRST AMENDMENT TO LEASE AGREEMENT Aen4 This Amendment, made and entered into this day of December, 2000, by and between the Arkansas Teacher Retirement System by its Agent, The Hathaway Group, Inc., hereinafter called "Lessor," and the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called "Lessee." WHEREAS, on January 1, 2000, both parties entered into a lease demising 27 parking spaces in the lot at Rock and Block Streets in Fayetteville, Arkansas for a monthly rent of $675 per month; NOW, THEREFORE, in consideration of the foregoing, the parties agree as follows: mm. 1. Term. Both parties agree that the term of this lease shall be extend for one (1) additional year at the same rental rate as currently being paid. 2. Subleasing. Lessor hereby grants Lessee the right to sublease the spaces rented above; however, Lessee must use all applicable parking permits as required by Lessor. Lessee agrees to return all parking permits supplied by Lessor upon termination of this Lease. This section shall not be superceded by any other terms of the primary Lease, and Lessor does not waive any other right or conditions previously stated in the Lease. 3. All other terms and conditions shall remain the same. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the date written above. LESSOR: Arkansas Teacher Retirement System, By its Agent The Hathaway Group LESSEE: City of Fayetteville, Arkansas By: ICin aid Senior Vice President ATTEST: By:t1LkjJ r Title: LI 1 1 ATTEST: By: afraely Title: City Clerk THE FIATHAWAY GROUP March 21, 2000 Ms. Apryl Okoroafor Parking Management City of Fayetteville 113 West Mountain Fayetteville, AR 72701 Dear Apryl: James E. Hathaway, Jr, CRE Jeffrey R. Hathaway, CCIM, SIOR John C. Igncaid Ellen S. Koenig Stuart S. Mackey John M. Moore, 11 William S. Roach, J.D. L. Carter Burwell 11 Thank you for your help in getting this new parking lease completed. Enclosed please find four (4) original copies of the parking agreement between Arkansas Teacher Retirement System and the City of Fayetteville. Please note that this lease is exactly like the one you forward except that I have corrected the entity name and the lease dates. Also, on page two, we added a provision that the Lessor can cancel the lease with 60 days notice, if, in the event we need the parking spaces for a tenant, the Lessor did not agree with the City's substitute parking location. Hopefully, this lease will be acceptable. We do not know now of any tenant that would require the spaces the City is using, but we felt that we needed the option to use those spaces for building tenant if the needed arises. If you have any questions, please call me. Otherwise, please have all four copies executed, retain one copy for your records, and return the other 3 copies to me in the envelope provided. Thanks again for your help. JB Enclosures .11TCN Commercial Industrial and Investment Realtors 100 Morgan Keegan Drive • Suite 120 • Little Rock. Arltansas 72202-2214 • 1501)663-5400 • Fax (5011663-5408 thr; 41 STAFF REVIEW FORM 41/ X AGENDA REQUEST CONTRACT REVIEW GRANT REVIEW For the Fayetteville City Council meeting April 18, 2000 FROM: Apryl Okoroafor Parking Management Administrative Services Name Division Department ACTION REQUIRED: Approval of contract with Arkansas Teacher Retirement System by its agent the Hathaway Group for the lease of a 27 space parking lot previously owned by Argora Properties, L.P. The current contract is with Argora Properties, L. The contract is the same except for the "Lessor" information has been changed to reflect the new ownership and allows lessor to cancel the lease with 60 days notice, if the need for parking spaces for tenants become relevant and the lessor does not agree with the City's substitute parking location. COST TO CITY: $6,075.00 $8,100.00 Property Lease Cost of this Request Category/Project Budget Category/Project Name 2130-9130-5308-00 $2,025.00 Account Number Project Number Funds Used To Date Program Name $6,075.00 Remaining Balance Fund BUDGET REVIEW: X Budgeted Item Budget Coordinator Administrative Services Director Budget Adjustment Attatched CONTRACT/GRANT/LEASE REVIEW: P Granting Agency: (11wa-lorY Acit.pu,LJ 3 --02-9 5 -30-n Accounting Manager Date 1 jfrnal Audi Date ) Citttorney -- Purchas ng Officet STAFF RECOMMENDATION: Date ADA Coordinat 3-3o- oo Date Staff recommended approval. Date Mayor .,5 -019-a) Date Date Date Cross Reference New Item: YES NO Prev. Ord/Res #: Orig. Contract Date: cs-r4P gEta r-oal 6 Page 2 Description Comments: Budget Coordinator • STAFF REVIEW FORM Accounting Manager City Attorney Purchasing Officer ADA Coordinator Internal Auditor Reference Comments: • eeting Date 3 ,2C1 /03 • amilkCity of Fayetteville, 113 West Mountain, Fayetteville, AR 72701 501- 575- 8206 Fax 501- 575- 8316 V Alt E E I L. I. E DATE: March 29, 2000 TO: Mayor Fred Hanna FROM: Apryl Okoroafor, Parking Management Coordinator Arkansas Teacher Retirement System Lease Contract Arkansas Teacher Retirement System by its agent The Hathaway Group has purchased the 27 space parking lot located east of Block Avenue and south of Rock Street from Argora Properties, L.P. The City currently holds a contract with Argora Properties, L.P. The request is for approval of the contract for the lease of the 27 space parking lot. The contract is the same except for the "Lessor" information has been changed to reflect the new ownership and allows lessor to cancel the lease with 60 days notice, if the need for parking spaces for tenants become relevant and the lessor does not agree with the City's substitute parking location. ivt FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE To: Apryl Okoroafor, Parking Management From: Heather Woodruff, City Clerk Date: April 21, 2000 Attached is a copy of the resolution approving a contract with Arkansas Teacher Retirement. 1 have returned two originals for you to distribute and your purchase requisition. The original will be microfilmed and filed with the City Clerk. cc: Yolanda Fields, Community Development (12/ -76t-h t•-• 9/44 dry 9/1//et (-49fr riede.4 • AE;