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HomeMy WebLinkAbout13569 RESOLUTION NO. 13569 A RESOLUTION APPROVING AN ASSUMPTION AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND ALEXANDER GRAYLING, LTD AND AUTHORIZING 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 thth of 86 parking spaces in the 8 & Court Lot for tenants in the building at 201 W. 8 Street; WHEREAS, Resolution No, 13326, approved November 9, 2015 authorized a parking permit agreement between 200 S. Broadway LP and the City of Pueblo for the monthly lease of thth 86 parking spaces in the 8 & Court Lot for tenants in the building at 201 W. 8 Street; WHEREAS, 200 S. Broadway LP has been replaced by Alexander Grayling, Ltd., for the th management of the property at 201 W. 8 Street, and Alexander Grayling, Ltd. 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 February 22, 2016 between Pueblo, a Municipal th Corporation and Alexander Grayling, Ltd., relating to the lease of parking spaces 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 28, 2016 BY: Ed Brown City Clerk’s Office Item # M-3 Background Paper Proposed Resolution COUNCIL MEETING DATE: November 28, 2016 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 ALEXANDER GRAYLING, LTD AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAID AGREEMENT SUMMARY: The Resolution transfers the parking agreement from 200 S. Broadway LP to Alexander Grayling, Ltd. 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 th spaces in the 8 & Court lot. BACKGROUND: The parking agreement, approved by Resolution No. 12841, in December 2013 th leases 86 spaces in the 8 & Court lot to ALI’I Management, LLC for parking associated with 201 th W. 8 Street. The property and building management was taken over by 200 S. Broadway LP, and as such the parking agreement was transferred and approved by Resolution No. 13326, in November 2015. The property and building has been taken over by Alexander Grayling, Ltd., 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. RECOMMENDATION: Approval Attachments: Assumption Agreement ASSUMPTION AGREEMENT THIS AGREEMENT is entered into this 22nd day of February, 2016, by and between the City of Pueblo, Colorado, a municipal corporation ("City") and, Alexander Grayling, Ltd., Pueblo, Colorado, 81003, a Colorado corporation, 201 W. 8th St., Suite 500, Pueblo, Colorado, 81003. Recitals WHEREAS, City has entered into a Parking Permit Agreement with ALI'l Management, LLC dated January 1, 2014; and WHEREAS, 200 S. Broadway LP, assumed said parking agreement November 9th, 2015; and WHEREAS, Alexander Grayling, Ltd. Wishes to assume 200 S. Broadway LP'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. Alexander Grayling, Ltd., hereby assumes and agrees to observe, perform and otherwise discharge when due the obligations of Permittee including all obligations assumed by 200 S. Broadway LP, 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 Alexander Grayling, Ltd. the same rights under the Agreement as previously enjoyed by 200 S. Broadway LP. 3. Effective date. This Assumption Agreement shall become effective on the date set forth above. City of P - - va.H;,;,;al Corpefation-- Attest: BY _41111111111111/ C 2 City rk Pres of City Council Alexander Grayling, Ltd. 201 W. 8th Street, Suite 500 Pueblo, CO 8100,3 By �� - Signature Todd Pasquin Name Manager Title C313 I /l Date ASSIGNMENT 200 S. Broadway LP, Pueblo, Colorado, 81004, a Colorado corporation, 201 W. 8th St., Pueblo, Colorado, 81003, assigns all of its rights in the October 26th, 2015, Assumption Agreement with the City of Pueblo, Colorado, a municipal corporation, to Alexander Grayling, Ltd., a Colorado corporation, effective as of February 22, 2016. 200 S. BROADWAY LP By: h 407 /a-76- Signature ! ('0Q t- J Lu (r) a Name Pa/411e r ---Tit e--------- __ __- --- Date