2.3.
CC Work Session
- Meeting Date:
- 10/13/2015
Information
Title:
Discuss Potential Tenant for Leasing Space on the Second Floor of the Ramsey Municipal Center
Purpose/Background:
Purpose
Discuss Potential tenant for leasing space on the second floor of the Ramsey Municipal Center. Specifically, Staff is asking:
If the Council is generally comfortable with the items outlined above, Staff and Premier Commercial Realty will negotiate a lease agreement with the prospect. That agreement will be brought back to the City Council for further/ final review.
Background
In August 2014, the Council directed Staff to market roughly 3,000 square feet vacant office space located on the second floor of the Ramsey Municipal Center for lease. As part of that effort, the City hired a third party broker--Premier Commercial Realty (Marty Fisher). Attached to this case is the marketing brochure.
In August of 2014, the Council also set an "asking price" and basic terms conditions for a potential lease (in closed session). From a preliminary perspective, the potential lease agreement outlined in this case (below) appears to meet said general terms.
In September of 2015, Premier Commercial Realty approached Staff with a potential lessor--Edward Jones. Please see attached for specifics.
If the City leases this space, the second floor of City Hall still has capacity for at least twelve additional work stations. This is more than the amount of additional administrative employees that are anticipated at full development, even if the City adds additional operations such as a parks and recreation department, or a utility billing staff (currently contracted with a private firm). Police, Fire, and Public Works have separate office areas to provide for growth in these departments.
There will be no significant impact to current operations if this space is leased.
Discuss Potential tenant for leasing space on the second floor of the Ramsey Municipal Center. Specifically, Staff is asking:
(1) is the Council comfortable with the proposed user?
(2) is the Council comfortable with the "preliminary term sheet?"
(3) is the Council comfortable with the "preliminary floor plan?"
(2) is the Council comfortable with the "preliminary term sheet?"
(3) is the Council comfortable with the "preliminary floor plan?"
If the Council is generally comfortable with the items outlined above, Staff and Premier Commercial Realty will negotiate a lease agreement with the prospect. That agreement will be brought back to the City Council for further/ final review.
Background
In August 2014, the Council directed Staff to market roughly 3,000 square feet vacant office space located on the second floor of the Ramsey Municipal Center for lease. As part of that effort, the City hired a third party broker--Premier Commercial Realty (Marty Fisher). Attached to this case is the marketing brochure.
In August of 2014, the Council also set an "asking price" and basic terms conditions for a potential lease (in closed session). From a preliminary perspective, the potential lease agreement outlined in this case (below) appears to meet said general terms.
In September of 2015, Premier Commercial Realty approached Staff with a potential lessor--Edward Jones. Please see attached for specifics.
If the City leases this space, the second floor of City Hall still has capacity for at least twelve additional work stations. This is more than the amount of additional administrative employees that are anticipated at full development, even if the City adds additional operations such as a parks and recreation department, or a utility billing staff (currently contracted with a private firm). Police, Fire, and Public Works have separate office areas to provide for growth in these departments.
There will be no significant impact to current operations if this space is leased.
Timeframe:
5-20 minutes
Funding Source:
NA
Responsible Party(ies):
Patrick Brama
Outcome:
(1) is the Council comfortable with the proposed user?
(2) is the Council comfortable with the "preliminary term sheet?"
(3) is the Council comfortable with the "preliminary floor plan?"
(2) is the Council comfortable with the "preliminary term sheet?"
(3) is the Council comfortable with the "preliminary floor plan?"
If the Council is generally comfortable with the items outlined above, Staff and Premier Commercial Realty will negotiate a lease agreement with the prospect. That agreement will be brought back to the City Council for final review.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 10/08/2015 01:16 PM |
- Form Started By:
- Patrick Brama
- Started On:
- 09/29/2015 10:19 AM
- Final Approval Date:
- 10/08/2015