Authorizing the City to enter into a 15-year lease agreement with Go Wild, LLC for the Saint Paul Police Department's lease of office space at 400 Wabasha Street.
WHEREAS, the City of Saint Paul ("City"), on behalf of the Saint Paul Police Department ("SPPD"), has negotiated a lease agreement ("Lease") with Go Wild, LLC ("Landlord"), for use of office space within the property located at 400 Wabasha Street ("Leased Premises") for police training and administrative purposes; and
WHEREAS, SPPD now wishes to execute the Lease with the Landlord, to be followed by build out of the Leased Premises and occupancy in the fall of 2017; and
WHEREAS, the Lease provides for a term of fifteen (15) years, with two five-year renewal options, and annual rent and parking of $250,000 for the first five (5) years; and
WHEREAS, annual rent and parking will increase in years 6 through 15 based on established inflationary assumptions, with total rent and parking over the Lease term equalling approximately $5.7 million; and
WHEREAS, the Lease also provides for one-time contributions by the City and Landlord toward build out of the Leased Premises; and
WHEREAS, the Lease contains indemnification provisions to which the City is agreeable; and
WHEREAS, the City Council finds that use of the Leased Premises will serve a legitimate public purpose in assisting SPPD in its efforts to keep the public safe; now, therefore be it
RESOLVED, that the City Council hereby approves the Lease in substantially the form now on file with the City, with such necessary and appropriate variations, omissions, and insertions as do not materially change the substance thereof, or as the Director, Office of Financial Services, in his discretion, shall determine, and the execution and delivery thereof by the City officials shall be conclusive evidence of such determination.