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| ARF- 2871 |
Consent Agenda Item 3. D.
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| Regular BOS Meeting |
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| Information |
| Request/Subject |
| Amendment to Copper Mountain Inn, Inc. Lease Agreement-Item "G". |
| Background Information |
| Effective February 1, 2001, Copper Mountain Inn, Inc. and Gila County entered into a Lease Agreement whereby Gila County leases office space located at 1100 Monroe Street, Globe, Arizona. |
| Evaluation |
There have been multiple amendments made to the Lease Agreement:
•Item “A”, Board approved February 27, 2001, original agreement under Owner’s previous name of Mountain Professional Office Building;
•Item “B”, Board approved May 31, 2001, added 2,513 square foot to existing lease amount and Owner name changed to Copper Mountain Inn, Inc.;
•Item “C”, Board approved September 25, 2001, changed the rate per square foot charged for the office area occupied by AHCCCS.;
•Item “D”, Board approved February 2, 2003, extended lease through July 31, 2003, with automatic renewals every year thereafter unless either party gives a sixty (60) day notice to the other to terminate;
•Item “E”, Board approved December 6, 2011, reflects the correct amount charged per square foot and the square foot currently occupied by the County since the Gila County Public Fiduciary vacated the premises. The only County department currently leasing office space under this Lease Agreement is the Gila County Probation Department;
•Item "F", Board approved February 5, 2013, increased the per square foot rate from $1.32166612 to $1.45383269;
•Item "G" will serve to acknowledge the new owner of the property at 1100 Monroe Street in Globe, Arizona, as Globe Office Building Partners, LLC, effective November 1, 2014.
Because notice of the change in ownership was not issued by Copper Mountain Inn, Inc. until October 24, 2014, it is not possible to get the approval of the Board of Directors to the amendment acknowledging the new owner, until after the November 1, 2014, effective date of the change in ownership. Globe Office Building Partners, LLC and Copper Mountain Inn, Inc. have agreed that the lease payment due on November 15, 2014, by the County, will be made payable to Copper Mountain Inn, Inc., who will then pay the November payment to Globe Office Building Partners, LLC. |
| Conclusion |
An amendment to the lease agreement executed on February 1, 2001, for the property at 1100 Monroe Street in Globe, Arizona, has been written to acknowledge the change in ownership of the property, effective November 1, 2014, as Globe Office Building Partners, LLC.
Effective December 1, 2014, all monthly lease payments shall be paid to Globe Office Building Partners, LLC. The monthly lease payment shall remain the same at $13,394.16. |
| Recommendation |
| The Finance Division Director and the Public Works Division Director recommends that the Board of Supervisors approve the amendment to the lease agreement - Item "G", with Copper Mountain Inn, Inc. |
| Suggested Motion |
| Approval of Amendment, Item "G" to the Copper Mountain Inn, Inc. Lease Agreement whereby the County, effective November 1, 2014, recognizes the new owner of the property where Gila County leases office space, at 1100 Monroe Street, Globe, Arizona, as Globe Office Building Partners, LLC. The monthly lease payment remains the same at $13,394.16 per month. |
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