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File #: 19-0698    Version: 1
Type: Resolution Status: Adopted
File created: 7/8/2019 In control: Finance & Governance Committee
On agenda: 8/12/2019 Final action: 8/12/2019
Title: A resolution approving a proposed Lease Agreement between the City and County of Denver and CAGSPI 4650, LLC to meet the city's warehousing and storage needs while preserving future development opportunities located at 4650 Steele Street. Approves a lease agreement with CAGSPI 4650, LLC for $7,854,353.98 and for 87 months with an option to purchase, to lease approximately 120,907 square feet to meet the city's warehousing and storage needs while preserving future development opportunities of the site, located at 4650 Steele Street in Council District 9 (FINAN 201950262). The last regularly scheduled Council meeting within the 30-day review period is on 8-26-19. The Committee approved filing this item at its meeting on 7-23-19.
Indexes: Jonathan Griffin
Attachments: 1. RR19 0698 DOF 4650 Steele Street Lease, 2. 4650SteeleStreet_FINGOV_072319_Final, 3. 19-0698 Filed Resolution_CAGSPI4650LLC_201950262J07262019MMM.pdf, 4. 19-0698 LeaseAgr_CAGSPI 4650_201950262-00(JAG).pdf, 5. 19-0698_Filed Resolution_CAGSPI4650LLC.pdf, 6. 19-0698 - signed.pdf
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 7-08-19

Requesting Agency: Finance
Division:

Subject Matter Expert Name: Lisa Lumley
Email Address: lisa.lumley@denvergov.org
Phone Number: 720.913.1515

Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).

Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A resolution approving a proposed Lease Agreement between the City and County of Denver and CAGSPI 4650, LLC to meet the city's warehousing and storage needs while preserving future development opportunities located at 4650 Steele Street.
Approves a lease agreement with CAGSPI 4650, LLC for $7,854,353.98 and for 87 months with an option to purchase, to lease approximately 120,907 square feet to meet the city's warehousing and storage needs while preserving future development opportunities of the site, located at 4650 Steele Street in Council District 9 (FINAN 201950262). The last regularly scheduled Council meeting within the 30-day review period is on 8-26-19. The Committee approved filing this item at its meeting on 7-23-19.
body

Affected Council District(s) or citywide? Council District 9

Contract Control Number: FINAN 201950262

Vendor/Contractor Name (including any "DBA"): CAGSPI 4650, LLC

Type and Scope of services to be performed:
Grants approval to execute a Lease Agreement between CCD, as tenant, and CAGSPI 4650, LLC, as landlord for the property located at 4650 Steele Street. In 2015, a neighborhood plan was created which identified 4650 Steele Street as a potential future employment town center with uses that include mixed use flex spa...

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