Title
Discuss Medistat Storage Lease
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
Medistat has informed the City of Foley that due to their growth (25 employees to over 100 employees) they need the 6,568 sq. ft. the City is leasing in the amount of $2,750 per month. Medistat is purchasing the H.T. Barnes building located on US 98 that has 11,000/sq. ft. available including restrooms and a loading dock.
SOURCE OF FUNDING:
Please provide the amount requested:
Is this a budgeted item? Yes /No
Please provide the budgeted amount: $_16,500 for the remainder of the FY14 Account No. 01-620-8100 Lease - Storage at 110 E. Azalea Avenue
If budgeted, is this a capital purchase, capital project, or special fund? _________________________
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No
If yes, please provide the amount included in Capital Projects Plan: $___________
Body
WHEREAS, The City of Foley leases storage space from Medistat, LLC under a Commercial Lease Agreement dated May 17, 2011, beginning June 1, 2011 and ending on May 31, 2016, for a five year period at $2,750 per month, and
WHEREAS, Medistat has grown from 25 employees to over 100 employees and need the leased space due to their growth, and
WHEREAS, Medistat has purchased the H.T. Barnes property located on U.S. Hwy. 98 that has 11,000 sq. ft. of conditioned space including restrooms and a loading dock they are willing to lease or sell to the City, and
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1:
SECTION 2:
SECTION 3:
SECTION 4: This Resolution shall become effective immediately upon its adoption as required by law.