ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
Item No. 15.
Regular City Council Meeting
- Meeting Date:
- 09/11/2025
COMMITTEE:
Finance
CONTACT:
Hessel Yntema
CHAIR:
Robert B. Corn
ACTION REQUESTED:
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. (Corn/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 six 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 six departments that make up Community Development.
FINANCIAL CONSIDERATION
Minimum rent of $7,670.00 per month. The monthly rental amount is calculated as follows: $11.00 per square foot multiplied by 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 August 21, 2025, with a vote of 5-0. The Finance Committee recommended approval 5-0 at its meeting on September 4, 2025.
STAFF RECOMMENDATION:
Proceed as presented.