HomeMy WebLinkAbout201-08 RESOLUTIONRESOLUTION NO. 201-08
A RESOLUTION APPROVING AMENDMENT #1 TO THE LEASE
AGREEMENT WITH GCM PROPERTIES, LTD., LLC, EXTENDING THE
TERM OF THE LEASE FOR A PERIOD OF ONE YEAR.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas, hereby approves
Amendment #1 to the Lease Agreement with GCM Properties, Ltd., LLC. A copy of
Amendment #1, marked Exhibit "A," is attached hereto and made a part hereof.
PASSED and APPROVED this 6th day of November, 2008.
APPROVED:
By
DAN COODY, Mayor
ATTEST:
By
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/SAMMY SI SNINK4 A'ixv,17lteleatO9 rkt
Deputy City Clerk
AMENDMENT #1 TO THE LEASE AGREEMENT WITH GCM
PROPERTIES LTD., LLC
BE IT KNOWN TO ALL:
�inThat th Ci of Fayetteville, Arkansas and GCM Properties Ltd., LLC, on this the
day of 2008, agree that their Lease Agreement of November 7, 2006, is
hereby amended by extending the term of that Agreement for a period of one (1) year.
If the new Courts & Prosecuting Attorney's Building is not complete at the and of this
extension, the City of Fayetteville shall continue to lease the subject property on a
month-to-month basis.
That Paragraph 3. RENT is hereby amended by striking all language after the
first sentence of the Paragraph and inserting the following "The rental amount for this
new term shall remain $45,250.00 annually, payable in equal monthly installments of
$3,770.83, due the first day of each month of the extended term."
The parties agree and understand that this Amendment is supplemental to their
Lease Agreement of November 7, 2006, and that it does not alter, amend or abridge any
of the rights, obligations, or duties of the parties riot expressly addressed herein.
IN WITNESS WHEREOF, the parties hereto have caused their signatures to be
set by their authorized representative effective the date set forth herein above.
GCM Properties Ltd., LLC
City of Fayetteville, Arkansas
ATTEST:
$00414FifOliagRitirAMITAhakki
Deputy City Clerk
Casey Jones
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
11/4/2008
City Council Meeting Date
Agenda Items Only
City Prosecutor
Division
Action Required:
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C_ek, tgropus
LTD LLC
City Attorney
Department
Renew office space lease with GCM Properties, LTD, LLC for 12 months($3,770.83 per mo.) beginning 1/1/09. After
12 months and the Court/Prosecutor Building is not complete, will lease on month to month basis at $3770.83 per
month.
$45,250
Cost of this request
1010-6600.5309.00
Account Number
Project Number
Budgeted Item
X
$45,250
Category / Project Budget
$45,250
Services & Charges/Lease Expense
Program Category / Project Name
Funds Used to Date Program / Project Category Name
General Fund
Remaining Balance Fund Name
Budget Adjustment Attached
Department Director
City Attorney
Finance and Internal Service Director
Date
/0447hr
Date
o -1't-63
Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
187-06
11/7/2006
Received in
Mayor's Office
Comments:
Revised April 16, 2007
CLINTON K. JONES
CITY PROSECUTOR
BRIAN THOMAS
DEPUTY CITY PROSECUTOR
To:
From:
Date:
Re:
CITY OF FAYETTEVILLE
OFFICE OF THE PROSECUTING ATTORNEY
Mayor Dan Coody and members of the City Council
Casey Jones, City Prosecutor
October 17, 2008
Building Lease Extension
MANDY FINKLEA
OFFICE ADMINISTRATOR
E-mail: hotcheck@ci.fayetteville.ar.us
101 W. Mountain, Suite 202
FAYETTEVILLE, ARKANSAS 72701
PHONE: (479) 575-8377
(479) 5758378
(479) 575-8374
(479) 5754375
Hot Checks: (479) 5754254
FAX fl : (479) 5754373
Recommendation:
City Council approves to extend the lease for the City Prosecutor's Office in the
GCM Building.
Background:
On 11/7/06, the City approved a two year lease with the option to renew with
GCM, LTD, LLC for the City Prosecutor office space. The Resolution number is 187-06.
The first year's cost was $45,250 and the second year was to increase by the annual CPI
for 2007, but Owner, Gary McClendon did not increase the lease, the amount remained
the same.
Discussion:
On October 13, 2008, Gary McClendon, owner of GCM Properties LTD, LLC,
agreed to extend the lease with the City of Fayetteville for a period of one year beginning
1/1/09 with the same terms and no monetary increase. Given the new building for the
Court & Prosecutor is not complete by December 31, 2009, the City will have the option
to lease on a month to month basis with no monetary increase.
Budget Impact:
The annual lease amount of $45,250 is in the proposed 2009 Budget.
RESOLUTION NO.
A RESOLUTION APPROVING AMENDMENT #1 TO THE LEASE
AGREEMENT WITH GCM PROPERTIES, LTD., LLC, EXTENDING THE
TERM OF THE LEASE FOR A PERIOD OF ONE YEAR
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS•
Section 1. That the City Council of the City of Fayetteville, Arkansas, hereby approves
Amendment #1 to the Lease Agreement with GCM Properties, Ltd., LLC. A copy of
Amendment #1, marked Exhibit "A," is attached hereto and made a part hereof.
PASSED and APPROVED this th day of November, 2008.
APPROVED: ATTEST:
By: By:
DAN COODY, Mayor SONDRA E. SMITH, City Clerk/Treasurer
Hamei 61 at
Q. /- /o -021-08
AMENDMENT #1 TO THE LEASE AGREEMENT WITH GCM
PROPERTIES LTD., LLC
BE IT KNOWN TO ALL:
That the City of Fayetteville, Arkansas and GCM Properties Ltd., LLC, on this the
2 day of October, 2008, agree that their Lease Agreement of November 7, 2006, is
hereby amended by extending the term of that Agreement for a period of one (1) year.
If the new Courts & Prosecuting Attorney's Building is not complete at the and of this
extension, the City of Fayetteville shall continue to lease the subject property on a
month-to-month basis.
That Paragraph 3. RENT is hereby amended by striking all language after the
first sentence of the Paragraph and inserting the following "The rental amount for this
new term shall remain $45,250.00 annually, payable in equal monthly installments of
$3,770.83, due the first day of each month of the extended term."
The parties agree and understand that this Amendment is supplemental to their
Lease Agreement of November 7, 2006, and that it does not alter, amend or abridge any
of the rights, obligations, or duties of the parties not expressly addressed herein.
IN WITNESS WHEREOF, the parties hereto have caused their signatures to be
set by their authorized representative effective the date set forth herein above.
GCM Properties Ltd., LLC City of Fayetteville, Arkansas
DAN COODY, Mayor
ATTEST:
Sondra E. Smith, City Clerk/Treasurer
Clarice Pearman - Res. 201-08
From:
To:
Date:
Subject:
CC:
Attachments:
Clarice Pearman
Jones, Casey
11.13.08 1:28 PM
Res. 201-08
Audit
Audit
Page 1 of l
Casey:
Attached is a copy of the above resolution regarding GCM Properties. Please let me know if there is anything else needed for
this item. Have a good day.
Clarice
file://C:\Documents%20and%20Settings\cpearman.000\Local%20Settings\Temp\XPgrpwise\491 C2B89F... 11.13.08