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  Item No. 9.       
Regular City Council Meeting
Meeting Date: 02/14/2019  
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.
BACKGROUND:
NuMex Plastics, Inc., leases a portion of the building for the purpose of storage. Building space is 21,960 square feet. New monthly rent is $2,055; $ 24,660 annually. Rent adjustment is 3.00%. NuMex Plastics, Inc., has been a customer since December 2000. 
FINANCIAL CONSIDERATION
NuMex Plastics, Inc., new monthly rent is $2,055; $24,660 annually. Rent adjustment is 3.00%. Term: February 1, 2019 through January 31, 2020.
LEGAL REVIEW:
The City Attorney has reviewed the lease.
BOARD AND COMMITTEE ACTION:
The Legal Committee recommended (3-0) approval at their meeting on January 31, 2019.
STAFF RECOMMENDATION:
Consider approval of the lease as presented.
Attachments
NuMex Plastics, Inc.

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