HomeMy WebLinkAbout07752ORDINANCE NO. 7752
AN ORDINANCE APPROVING, CONFIRMING AND RATIFYING LEASE EXTENSION BETWEEN
THE CITY OF PUEBLO AND BESSEMER HISTORICAL SOCIETY RELATING TO SPACE IN
THE PROPERTY COMMONLY KNOWN AS THE CF &I ANNEX AND CF &I METAL BUILDING
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that
SECTION 1.
The Lease Extension dated April 25, 2005 between the City of Pueblo and Bessemer
Historical Society relating to the property commonly known as the CF &I Annex and CF &I Metal
Building, Pueblo, Colorado, a copy of which is attached hereto, having been approved as to form
by the City Attorney and Resolution No. 10380, and its execution by the President of the City
Council, are hereby approved, confirmed and ratified.
SECTION 2_
This Ordinance shall become effective thirty (30) days after final passage and approval.
INTRODUCED February 11, 2008
BY Judy Weaver
Councilperson
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ATTE D BY: �. � y
PRESIf NT'ei Cif' Council
PASSED AND APPROVED: February 25, 2008
Ord. - 7 - I52-
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Background Paper for Proposed
ORDINANCE
AGENDA ITEM # 0 R
DATE: February 11, 2008
DEPARTMENT: Law Department
TITLE
AN ORDINANCE APPROVING, CONFIRMING AND RATIFYING LEASE EXTENSION
BETWEEN THE CITY OF PUEBLO AND BESSEMER HISTORICAL SOCIETY
RELATING TO SPACE IN THE PROPERTY COMMONLY KNOWN AS THE CF &I
ANNEX AND CF &I METAL BUILDING
ISSUE
Should the City Council approve and ratify the Lease Extension Agreement?
RECOMMENDATION
Approve and ratify the Lease Extension.
BACKGROUND
The Property Tax Administrator, Division of Property Taxation of the Colorado
Department of Local Affairs ( "Administration ") determined that the property owned by
Canal Street Credits, LLC by conveyance from the Bessemer Historical Society will be
exempt from property taxes if the Lease Extension is concluded by ordinance and the
property is used by the City for authorized governmental or proprietary functions. The
Ordinance approves, confirms and ratifies the Lease Extension.
FINANCIAL IMPACT
None
LEASE EXTENSION
THIS LEASE EXTENSION is entered into as of — April 25 ' 2005
between the City of Pueblo, a municipal corporation, 1 City Hall Place, Pueblo, Colorado, 81003
( "Tenant ") and Bessemer Historical Society, a Colorado nonprofit corporation, 1612 E. Abriendo
Avenue, Pueblo, Colorado, 81004 ( "Landlord ").
WHEREAS, Landlord and Tenant entered into a Lease Agreement dated March 25, 2002
with respect to 43,206 square feet of space in the CF &I Annex Building ("Lease No. I"), and
WHEREAS, Landlord and Tenant entered into a Lease Agreement dated November 1,
2003 with respect to 10,000 square feet of space in the CF &I Metal Building ("Lease No. 2 "),
and
WHEREAS, Landlord and Tenant desire to extend the terms of Lease No. I and Lease
No. 2.
NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained
herein, Landlord and Tenant agree as follows:
The term of Lease No. 1 is extended to April 1, 2010.
2. The term of Lease No. 2 is extended to April 1, 2010.
3. Lease No. 1 and Lease No. 2 as amended by this Lease Extension shall remain in
full force and effect, binding upon and inuring to the benefit of Landlord and Tenant and their
respective successors and assigns.
Executed at Pueblo, Colorado the day and year first above written.
BE E1v�IER HISTO AL SOCIETY
/ President
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Secretary
CITY OF PUEBLO
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Preside of the C#rouncil
ATTEST:
(SEAL)
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