ROSWELL NEW MEXICO
COMMITTEE AGENDA ITEM ABSTRACT
COMMITTEE AGENDA ITEM ABSTRACT
F.8.
Finance Committee
- Meeting Date:
- 09/04/2025
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Robert B. Corn
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. (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 was the first to consider this lease agreement on 8/21/2025 with a vote of 5-0.
STAFF RECOMMENDATION:
Please consider approving this item and send it to the full City Council for the lease agreement between the City of Roswell and P.T. Productions Inc.