2.1.
CC Work Session
- Meeting Date:
- 06/25/2013
- By:
- Diana Lund, Finance
Title:
Consider Letter of Intent from Pact Charter School to enter into a lease agreement for warehouse space located at 6701 Highway 10.
Background:
Premier Properties, which now handles the property management of several properties on Highway 10 for the City, has received a Letter of Intent from Pact Charter School, approved by their Board, to enter into a lease agreement for warehouse space at 6701 Highway 10.
Pact Charter School is proposing to lease a portion of the back storage area to store approximately ten school buses. The proposal asks for approximately 420 square feet of heated storage space on the east side of the building (Exhibit A in attachment) and approximately 5,040 square feet of cold storage space (Shown also in Exhibit A). Access to both the East and West loading doors (doors 2,3,4,13,14,15 and 12(heated bay) are needed)
Pact is proposing a $1 per square foot and their share of electrical costs. Per Marty Fisher, of Premier Properties, current market rate is around $1.50 per square foot, but is difficult to determine an exact price for a specific property.
Pact is proposing to make the following modifications at their expense: Add electrical operators on each garage door and additional electrical to power engine block heaters for the buses. An electrical sub-meter would be installed to monitor electrical usage.
Pact Charter School is proposing to lease a portion of the back storage area to store approximately ten school buses. The proposal asks for approximately 420 square feet of heated storage space on the east side of the building (Exhibit A in attachment) and approximately 5,040 square feet of cold storage space (Shown also in Exhibit A). Access to both the East and West loading doors (doors 2,3,4,13,14,15 and 12(heated bay) are needed)
Pact is proposing a $1 per square foot and their share of electrical costs. Per Marty Fisher, of Premier Properties, current market rate is around $1.50 per square foot, but is difficult to determine an exact price for a specific property.
Pact is proposing to make the following modifications at their expense: Add electrical operators on each garage door and additional electrical to power engine block heaters for the buses. An electrical sub-meter would be installed to monitor electrical usage.
Notification:
Marty Fisher from Premier will be present at the worksession to discuss the terms of the Letter of Intent.
Recommendation:
Property Management's recommendation is to approve.
Funding Source:
Building was funded with RALF (Right-of-way Acquisition Loan Fund) dollars and any excess revenue, less administrative and maintenance expenses, must be returned to the RALF.
Council Action:
Approve/Deny Pact Charter School Letter of Intent. This item is on the consent agenda of the June 25 City Council meeting. If action is to Approve Letter of Intent, a Lease Agreement between Pact Charter School and the City of Ramsey will be prepared, subject to the review and approval of the City Attorney. If the action is to deny Letter of Intent, staff will follow council direction of any further steps, if any.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 06/19/2013 03:21 PM |
- Form Started By:
- Diana Lund
- Started On:
- 06/19/2013 09:14 AM
- Final Approval Date:
- 06/19/2013