Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 6-7-21
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
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Name: Lisa Lumley |
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Email: lisa.lumley@denvergov.org |
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 Fourth Amendatory Lease Agreement between the City and County of Denver and Colorado Symphony Association for the leasing of 1245 Champa Street.
Amends a lease agreement with Colorado Symphony Association by adding $107,932.68 for a new total of $302,938.18 and three years for a new end date of 6-30-24 to lease 10,435 square feet of office space at 1245 Champa Street in Council District 9 (FINAN-202056814-04; FINAN-201311017-04). The last regularly scheduled Council meeting within the 30-day review period is on 7-19-21. The Committee approved filing this item at its meeting on 6-16-21.
body
Affected Council District(s) or citywide? Council District 9
Contract Control Number: FINAN-202056814-04 / ALF FINAN-201311017-04
Vendor/Contractor Name (including any “DBA”): Colorado Symphony Association
Type and Scope of services to be performed:
Approval is requested to renew a lease with Colorado Symphony Association (“CSA”) at 1245 Champa Street. CSA has leased approximately 10,435 square feet of office space at 1245 Champa Street since 2013.
This lease amendment will extend the lease term for 3 years at a monthly rental rate of $2,998.13.
• This rental rate approximates predicted building operation expenses.
• The monthly rental rate also includes reimbursement to the City for past due expense charges.
o The prior lease had a nominal rental rate, with CSA reimbursing the City for actual expenses.
o This became difficult for CSA due to unpredictability of actual expenses.
o The new lease structure provides a predictable set rent payment for CSA.
The lease will be co-terminous with the Colorado Symphony Association lease of Boettcher Concert Hall, filed as a companion ordinance.
Location (if applicable):
WBE/MBE/DBE goals that were applied, if applicable (construction, design, Airport concession contracts):
Are WBE/MBE/DBE goals met (if applicable)?
Is the contract new/a renewal/extension or amendment?
Was this contractor selected by competitive process or sole source?
For New contracts
Term of initial contract:
Options for Renewal:
How many renewals (i.e. up to 2 renewals)?
Term of any renewals (i.e. 1 year each):
Cost of initial contract term:
Cost of any renewals:
Total contract value council is approving if all renewals exercised:
For Amendments/Renewals Extensions:
Is this a change to cost/pricing; length of term; terms unrelated to time or price (List all that apply)?
If length changing
What was the length of the term of the original contract?
10/1/2013 - 6/30/2021
What is the length of the extension/renewal?
3 years
What is the revised total term of the contract?
10/1/2013 - 6/30/2024
If cost changing
What was the original value of the entire contract prior to this proposed change?
$195,005.50
What is the value of the proposed change?
$107,932.68
What is the new/revised total value including change?
$302,938.18
If terms changing
Describe the change and the reason for it (i.e. compliance with state law, different way of doing business etc.)