TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2748 |
DEPARTMENT STAFF:
|
Finance |
Terry Marpert |
Real Property Manager |
TITLE:
title
City of Redmond-PPF AMLI Redmond Way LLC Lease Agreement
OVERVIEW STATEMENT:
recommendation
This is a proposed lease of City property at 16725 Cleveland St. (former Motley Zoo site) to PPF AMLI Redmond Way LLC (AMLI), for use as construction parking. The lease is for two years with a possible one-year extension with City approval, with rent set at $4,000.00 per month.
body
☐ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☐ Receive Information ☐ Provide Direction ☒ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
Examples: Community Strategic Plan, COMP Plan, etc. or N/A.
• Required:
RCW 35A.11.010 Rights, Powers, and Privileges - provides the authority for the City Council to enter into lease agreements.
• Council Request:
Enter the meeting and date when Council requested this information.
• Other Key Facts:
Enter any additional information to explain why this item is coming forward.
OUTCOMES:
This lease provides the City with revenue from property that would otherwise be vacant in the near term. Under a separate agreement, AMLI will be demolishing the existing building in preparation for use as construction parking for workers at AMLI’s mixed-use residential project on the former Value Village site.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
Enter N/A if not applicable.
• Outreach Methods and Results:
Enter N/A if not applicable.
• Feedback Summary:
Summarize the takeaways from the outreach and involvement of enter N/A if not applicable.
BUDGET IMPACT:
Total Cost:
Revenue to the City will be $4,000/month or $48,000/year.
Approved in current biennial budget: ☐ Yes ☐ No ☒ N/A
Budget Offer Number:
Enter the budget number from the adopted budget. If from a previous biennial budget, include the biennium too.
Budget Priority:
Enter the budget priority. An old budget priority may be listed if funding is from a previous biennial budget.
Other budget impacts or additional costs: ☐ Yes ☐ No ☒ N/A
If yes, explain:
Examples: software with a yearly cost, revenue generating, match requirements, etc. - if none, enter N/A.
Funding source(s):
N/A
Budget/Funding Constraints:
Examples: acceptance deadlines, earmarked funds, etc. - if none, enter N/A.
☐ Additional budget details attached
COUNCIL REVIEW:
Previous Contact(s)
|
Date |
Meeting |
Requested Action |
|
10/10/2023 |
Committee of the Whole - Finance, Administration, and Communications |
Approve |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
10/17/2023 |
Business Meeting |
Approve |
Time Constraints:
Examples: contract expirations, seasonal considerations, etc. - if none, enter N/A.
ANTICIPATED RESULT IF NOT APPROVED:
Loss of rental income.
ATTACHMENTS:
Attachment A - Lease Agreement