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RESOLUTION NO. 13326
A RESOLUTION APPROVING AN ASSUMPTION
AGREEMENT BETWEEN PUEBLO, A MUNICIPAL
CORPORATION AND 200 S. BROADWAY LP, A
COLORADO CORPORATION AND AUTHRIZING THE
PRESIDENT OF CITY COUNCIL TO EXECUTE SAID
AGREEMENT
WHEREAS, Resolution No, 12841, approved December 9, 2013 authorized a
parking permit agreement between ALI’I Management, LLC. and the City of Pueblo for
the monthly lease of 86 parking spaces in the 8th & Court Lot for tenants in the building
at 201 W. 8th Street;
WHEREAS, ALI’I Management, LLC. has been replaced by 200 S. Broadway LP,
for the management of the property at 201 W. 8th Street, and 200 S. Broadway LP
wishes to assume the parking permit agreement; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1:
The Assumption Agreement dated October 26, 2015 between Pueblo, a
Municipal Corporation and 200 S. Broadway LP, relating to the lease of parking spaces
th
at the City’s 8 and Court Streets Parking Lot, a copy of which is attached hereto
("Assumption Agreement"), having been approved as to form by the City Attorney, is
hereby approved. The President of the City Council is authorized to execute and deliver
the Assumption Agreement in the name of the City and the City Clerk is directed to affix
the seal of the City thereto and attest same.
SECTION 2:
The officers and staff of the City are directed and authorized to perform any and
all acts consistent with the intent of this Resolution and the attached contract/agreement
to effectuate the transactions described therein.
SECTION 3.
This Resolution shall become effective immediately upon passage and approval.
INTRODUCED: November 9, 2015
BY: Dennis Flores
City Clerk’s Office Item # M-4
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: November 9, 2015
TO: President Stephen G. Nawrocki and Members of City Council
CC: Sam Azad, City Manager
VIA: Gina Dutcher, City Clerk
FROM: Earl Wilkinson, P.E., Director of Public Works
SUBJECT: A RESOLUTION APPROVING AN ASSUMPTION AGREEMENT
BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND 200 S.
BROADWAY LP, A COLORADO CORPORATION AND AUTHRIZING
THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAID AGREEMENT
SUMMARY:
The Resolution transfers the parking agreement from ALI’I Management, LLC to 200 S.
Broadway LP
PREVIOUS COUNCIL ACTION:
Approval of Resolution No. 12841 authorizing the parking agreement between the City
of Pueblo and ALI’I Management, LLC for the lease of 86 parking spaces in the 8th &
Court lot.
BACKGROUND
The parking agreement, approved by Resolution No. 12841, in December 2013 leases
86 spaces in the 8th & Court lot to ALI’I Management, LLC for parking associated with
201 W. 8th Street. The property and building management has been taken over by 200
S. Broadway LP, and as such the parking agreement needs to be transferred.
FINANCIAL IMPLICATIONS
Denial of the Resolution will result in the loss of $2,580 monthly revenue to the Parking
Enterprise.
BOARD/COMMISSION RECOMMENDATION:
None
STAKEHOLDER PROCESS:
None
ALTERNATIVES:
Denial of the Resolution may jeopardize the future of the contract
If this Resolution is not approved, the appearance and integrity of the BTC building
could be jeopardized.
RECOMMENDATION:
Approval.
Attachments:
Assumption Agreement
ASSUMPTION AGREEMENT
THIS AGREEMENT is entered into this 26th day of October, 2015, by and between the
City of Pueblo, Colorado, a municipal corporation ("City") and, 200 S. Broadway LP, Pueblo,
Colorado, 81004, a Colorado corporation, 201 W. Stn St., Pueblo, Colorado, 81003.
Recitals
WHEREAS, City has entered into a Parking Permit Agreement with ALI'I Management,
LLC dated January 1, 2014; and
WHEREAS,200 S. Broadway LP,wishes to assume ALI'I Management, LLC's rights and
obligations under the Parking Permit Agreement;
NOW, THEREFORE in consideration of the foregoing recitals and the terms, conditions
and mutual promises set forth in this agreement, the parties agree as follows:
1. Assumption. 200 S. Broadway LP,hereby assumes and agrees to observe,perform
and otherwise discharge when due the obligations of ALI'I Management, LLC under the January
1, 2014 Parking Permit Agreement, a copy of which, marked as Exhibit A, is attached hereto and
is incorporated herein by reference.
2. Consent. City hereby consents to 200 S. Broadway LP,assumption of the January
1, 2014 Parking Permit Agreement and City agrees to afford 200 S. Broadway LP,the same rights
under the Agreement as previously enjoyed by ALI'I Management, LLC.
3. Effective date. This Assumption Agreement shall become effective on the date set
forth above.
City of Pueblo, a Munic' orpora 1
Attest:
41141..
City rk i ity Council
200 S. Broadway LP
C/O Griffis Blessing
201 W. 8th Street Suite 300
Pueblo, CP 8 103
By: it / _
'gnature
Lisa Hammond on behalf of 200 S. Broadway LP
Name
Portfolio Manager
Title J / J 1i 5
Date