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  Item No. 19.       
Meeting Date: 01/09/2020  
COMMITTEE: Legal  
CONTACT: Aaron Holloman CHAIR: Judy Stubbs

ACTION REQUESTED:
Consider approval to authorize NuMex Plastics, Inc., a New Mexico Corporation, to renew their current lease agreement on a portion of Building No. 112B. (Stubbs/Holloman/Stark)
BACKGROUND:
Initiated by:  Scott Stark/Mark Bleth
 
NuMex Plastics, Inc., leases the building for the purpose of storage. 21,960 square feet. New rent amount is $2,364 monthly; $28,368 annually. Rent adjustment is 15%. NuMex Plastics, Inc., has been a customer since December 2000.
FINANCIAL CONSIDERATION
NuMex Plastics, Inc., new rent amount is $2,364 monthly; $28,368 annually. The rent adjustment is 15%. Term: February 1, 2020, through January 31, 2021.
LEGAL REVIEW:
The City Attorney has reviewed the lease.
BOARD AND COMMITTEE ACTION:
This item did not go to the Legal Committee due to lack of a quorum.
STAFF RECOMMENDATION:
Consider approval to authorize NuMex Plastics, Inc., a New Mexico Corporation, to renew their current lease agreement on a portion of Building No. 112B.
Attachments
ATT 1 NuMex


    

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