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Resolutions: 926

Resolution Number

926 

Resolution Subject

Approving a Lease with SH & H Valuation, LLC for Ste. 201 of the University Place Civic Building

Date Adopted

7/6/2020 

Repealed By

 

Amended By

 

Resolution

RESOLUTION NO. 926

 

A RESOLUTION OF THE CITY OF UNIVERSITY PLACE, WASHINGTON, APPROVING A LEASE WITH SH & H VALUATION, LLC, FOR STE. 201 OF THE UNIVERSITY PLACE CIVIC BUILDING

 

 

WHEREAS, the City owns two commercial retail spaces in the Civic Building; one is rented, and the other (Ste. 201) is still listed with a commercial real estate broker; and

 

WHEREAS, the City desires to have a business presence in all of its leasable spaces, especially businesses who pay at or near the fair market value; and

 

WHEREAS, it is in the City’s best interests to enter into a lease with SH & H Valuation, LLC for Ste. 201 of the University Place Civic Building.

 

            NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PLACE, WASHINGTON, AS FOLLOWS:

 

1.     Incorporation of Recitals. The recitals are hereby incorporated herein as if set forth in full.

 

2.   Legislative Determination of Consideration. The Council of the City of University Place has considered the proposed Retail Lease Agreement with SH & H Valuation, LLC, and hereby makes a legislative determination that the lease terms are sufficient and appropriate consideration for the lease of Ste. 201 of the Civic Building by SH & H Valuation, LLC.    

 

3.   Approval of Form of Documents. The City Council hereby approves execution of the Retail Lease Agreement with SH & H Valuation, LLC, in substantially the form of the documents attached to this Resolution.

 

4.    Completion of Transaction. The City Manager is authorized to take and execute any additional measures or documents that may be necessary to complete this transaction, which are consistent with the approved form of documents attached to this Resolution, and this Resolution.

 

            5.   Effective Date. This Resolution shall be effective immediately upon adoption by the City Council.

 

ADOPTED BY THE CITY COUNCIL ON JULY 6, 2020.

 

 

                                                                                                                                    ________________________________
Caroline Belleci, Mayor

 

ATTEST:

 

 

_______________________________

Emelita J. Genetia, City Clerk

 

APPROVED AS TO FORM:

 

 

________________________________

Matthew S. Kaser, City Attorney

Council Minutes

Regular Council Meeting Minutes-20200706-0830 

ResolutionID

Resolution:926-19020714-926 
Attachments
926-Attachment.pdf    
Content Type: Resolution
Created at 7/7/2020 11:56 AM  by Emelita Genetia 
Last modified at 7/21/2020 8:31 AM  by Emelita Genetia