Regular Items 9.
Legal Committee
- Meeting Date:
- 08/21/2025
COMMITTEE:
Legal
CONTACT:
Hessel Yntema
CHAIR:
Ed Heldenbrand
ACTION REQUESTED:
Discussion and recommendation of approval of a Lease Agreement with P.T. Productions, Inc., a New Mexico Corporation, for property located at 400-402-404 West 2nd Street and 106 N Kentucky, Roswell, NM 88203. (Todd Verciglio)
BACKGROUND:
Initiated by: Todd Verciglio
This request is to consider recommending approval for the City of Roswell to enter into a Lease Agreement with P.T. Productions Inc. The office space is needed to house the 6 departments that make up Community Development.
This request is to consider recommending approval for the City of Roswell to enter into a Lease Agreement with P.T. Productions Inc. The office space is needed to house the 6 departments that make up Community Development.
FINANCIAL CONSIDERATION:
Minimum rent of Seven Thousand Six Hundred Seventy Dollars ($ 7,670.00 ) per month. The monthly rental amount is calculated as follows: $11.00 per square foot X 8,368 square feet = $92,048.00 per year
LEGAL REVIEW:
The City Attorney has reviewed the lease agreement.
BOARD AND COMMITTEE ACTION:
The Legal Committee is the first to consider this lease agreement.
STAFF RECOMMENDATION:
Please consider approval and send to the Finance Committee the lease agreement between the City of Roswell and P.T. Productions Inc.