Title
A Resolution to Approve the Lease Agreement Between the City of Foley and Foley CB, LLC
Summary
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**
In current year Capital Projects Plan:
_____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________.
_____ No, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.
Body
WHEREAS, the City of Foley and Foley CB, LLC entered into a Commercial Lease Agreement dated November 6, 2021 for the lease of approximately 2,500 sg ft rented space and 2,814 usable sq ft identified as Suite 225 located on the second floor of the building listed as 200 W. Laurel Avenue, Foley, Alabama, and
WHEREAS, the City of Foley and Foley CB, LLC entered into the Lease Addendum dated October 7, 2022, and
WHEREAS, the City of Foley and Foley CB, LLC entered into a Lease Agreement dated January 1, 2022 for the sole purpose of leasing certain real property to be used exclusively as a parking lot, and
WHEREAS, a lease amendment was entered into on September 24, 2023 to allow for lease extensions for the commercial lease agreement dated November 6, 2021 and parking lot agreement dated January 1, 2022, and
WHEREAS, the City of Foley and Foley CB, LLC desire to continue the Lease in order to lease the 2, 814 usable square footage as identified in the attached Lease Agreement to allow for parking for City staff that will remain in the leased office space.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves the Lease Agreement between the City of Foley and Foley CB, LLC.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.