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Docusign Envelope ID: D8D6A278-36E3-48B6-9156-BDE2EA021C4A
ORDINANCE NO. 11107
AN ORDINANCE APPROVING A LEASE BETWEEN THE CITY
OF PUEBLO, A COLORADO MUNICIPAL CORPORATION AND
IQOR US, INC., A DELAWARE CORPORATION FOR THE LEASE
OF CITY OWNED PROPERTY LOCATED AT 317 NORTH MAIN
STREET, PUEBLO, COLORADO 81003ANDAUTHORIZING THE
MAYOR TO EXECUTE SAID LEASE
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Lease between the City of Pueblo, a Colorado municipal corporation and iQor US
Inc., a Delaware corporation, a copy of which is attached hereto, having been approved as to
form by the City Attorney, is hereby approved. The Mayor is authorized to execute and deliver
the lease 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 authorized and directed to perform any and all acts
consistent with this Ordinance and the attached Lease which are necessary or desirable to
effectuate the transactions described therein.
SECTION 3.
This Ordinance shall become effective on the date of final action by the Mayor and
City Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on December 22, 2025.
Final adoption of Ordinance by City Council on January 12, 2026.
President of City Council
ORDINANCE NO. 11107
AN ORDINANCE APPROVING A LEASE BETWEEN THE CITY
OF PUEBLO, A COLORADO MUNICIPAL CORPORATION AND
IQOR US, INC., A DELAWARE CORPORATION FOR THE LEASE
OF CITY OWNED PROPERTY LOCATED AT 317 NORTH MAIN
STREET, PUEBLO, COLORADO 81003 AND AUTHORIZING THE
MAYOR TO EXECUTE SAID LEASE
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Lease between the City of Pueblo, a Colorado municipal corporation and iQor US
Inc., a Delaware corporation, a copy of which is attached hereto, having been approved as to
form by the City Attorney, is hereby approved. The Mayor is authorized to execute and deliver
the lease 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 authorized and directed to perform any and all acts
consistent with this Ordinance and the attached Lease which are necessary or desirable to
effectuate the transactions described therein.
SECTION 3.
This Ordinance shall become effective on the date of final action by the Mayor and
City Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on December 22, 2025.
Final adoption of Ordinance by City Council on January 12, 2026.
____________________________
President of City Council
Action by the Mayor:
Approved on _______________.
Disapproved on ______________ based on the following objections:
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
____________________________
Mayor
Action by City Council After Disapproval by the Mayor:
Council did not act to override the Mayor's veto.
Ordinance re-adopted on a vote of ____________, on _____________
____________________________
President of City Council
ATTEST
________________________________
City Clerk
City Clerk's Office Item # S12
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: January 12, 2026
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Marisa Stoller, City Clerk
FROM: Carla Sikes, City Attorney
SUBJECT: AN ORDINANCE APPROVING A LEASE BETWEEN THE CITY OF
PUEBLO, A COLORADO MUNICIPAL CORPORATION AND IQOR US,
INC., A DELAWARE CORPORATION FOR THE LEASE OF CITY
OWNED PROPERTY LOCATED AT 317 NORTH MAIN STREET,
PUEBLO, COLORADO 81003 AND AUTHORIZING THE MAYOR TO
EXECUTE SAID LEASE
SUMMARY:
Attached is an Ordinance approving and authorizing the Mayor to sign a lease with iQor
US Inc. a Delaware corporation.
PREVIOUS COUNCIL ACTION:
On November 23, 2015, by Resolution No. 13341, City Council approved a Lease with
iQor for approximately 41,379 square feet of the Pope Block Building located at 317.
N. Main Street in downtown Pueblo and March of 2019 City Council approved a lease
with iQor for approximately 12,978 square feet located at 317 N. Main Street.
BACKGROUND:
iQor wishes to continue leasing approximately 25,863 square feet in the Pope Block
Building from the City at 317 N. Main Street for three more years with two (2) three (3)
rent for the Term of this Lease shall be as follows:
Dates Cost per Square Square Feet Annual Cost
Foot
01/01/26 to $7.50 25,862 $193,965.00
03/31/26
04/01/26 to $8.25 25,862 $213,361.50
06/30/26
07/01/26 to $9.70 25,862 $250,980.00
12/31/26
01/01/27 to $10.00 25,862 $258,620.00
12/31/27/27
01/01/28 to $10.30 25,862 $266,378.60
12/31/28
iQor has agreed to rent 25,862 square feet. The space will continue to be used as a call
center. following:
Maintenance of the building
Building utilities
Major Repair of the building
Building property taxes
Building Property Taxes
Building insurance
Building fire systems
iQor will be responsible for routine maintenance of its leased space and repairs up to
$1,000. The lease can be terminated by iQor for convenience with at least 180 days
notice or either party for cause.
FINANCIAL IMPLICATIONS:
The lease will generate $1,183,305.10 in revenue to the half cent sales tax fund over the
initial three-year term.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
Not applicable to this Ordinance.
ALTERNATIVES:
If this Ordinance is not approved, iQor may move or close its call center in downtown
Pueblo.
RECOMMENDATION:
Approve the Ordinance.
ATTACHMENTS:
1. iQor Lease