HomeMy WebLinkAbout~Master - Lease extension for Welch Avenue Parking Lot T RESOLUTION NO. 15-286
RESOLUTION APPROVING ONE-YEAR LEASE EXTENSION FOR WELCH AVENUE
PARKING LOT T
FOR THE CITY OF AMES, IOWA
WHEREAS,Welch Lot T (209 Welch Avenue located along the west side of Welch Avenue
and south of Pizza Pit) is owned by the Pizza Pit owner and is being leased by the City for use as a
public parking lot; and,
WHEREAS,on May 22,2012,the City Council approved a three-year extension of the lease
with the owner, and the lot contains 29 spaces including 10 rented and 19 metered spaces; and,
WHEREAS, the City receives revenue from this lot through: 1) the leasing of the rental
spaces and 2) from the coin revenue from the meters; and,
WHEREAS, most recently, during the current three-year lease extension, the City has had
estimated expenses totaling $85,589 and revenues of$28,781 (net loss = $56,808); and,
WHEREAS, over the total life of the leasing periods (23 years), the City has seen an
estimated net operating loss of$326,707, or $14,205 annually; and,
WHEREAS, the City has been operating Welch Lot T at a net loss in order make the lot and
additional parking spaces available to Campustown visitors and businesses; and,
WHEREAS, the owner of the property has been in contact with staff regarding his desire to
renew this lease on a year-to-year basis and has asked for a shorter-term(one year)extension in order
to see what further development takes place in Campustown,specifically any potential redevelopment
of the Post Office property (and adjacent properties) along the east side of Welch Avenue; and,
WHEREAS, typically, the lease renewal has come with a 1.5% increase in annual fees,
however, the owner proposed that the fee and all other terms of the lease remain unchanged for the
one-year lease extension.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that
a one-year lease extension for the Welch Avenue Parking Lot T at the rate of$15,142.05 per year
with the lease expiring in May 2016 is hereby approved.
ADOPTED THIS 12th day of May, 2015.
ov
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Betcher
Seconded by: Goodman
Voting aye: Betcher, Corrieri, Gartin, Goodman, Nelson, Orazem
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 12t'day of May, 2015.