HomeMy WebLinkAbout(0071) M&C 20-0872City of Fort Worth, Texas
Mayor and Council Communication
DATE: 12/01/20 M&C FILE NUMBER: M&C 20-0872
LOG NAME: 17PEOPLEFUNDAMEND1
SUBJECT
(CD 8) Authorize Execution of Amendment No. 1 to Lease Agreement with PeopleFund a 501(c)(3) Non -Profit Corporation, for Office Space at
the James E. Guinn School Located at 1150 South Freeway
RECOMMENDATION:
It is recommended that the City Council authorize the execution of Amendment No. 1 to the Lease Agreement with PeopleFund, a 501(c)(3) non-
profit corporation, for office space at the James E. Guinn School located at 1150 South Freeway.
DISCUSSION:
On September 19, 2017, Mayor and Council Communication (M&C L-16076) authorized the execution of a lease agreement with PeopleFund, a
501(c)(3) non-profit corporation, for approximately 100 square feet of office space at the Fort Worth Business Assistance Center located at 1150
South Freeway. The term of the lease was for five years beginning on October 1, 2017 and continues for five years, with two five-year renewal
terms. The lease space consists of Suite 106 located at 1150 South Freeway and the base rent is $12.52 per square foot per year. The space will
be used solely for the purpose of office space and/or education and training.
This first amendment expands the leased premises and provides a definition for the leased area. Under the terms of the amendment, the City will
lease to PeopleFund approximately 292 square feet on the first floor designated as Suite No. 129 and Suite No. 130 in the building known as the
James E. Guinn School located at 1150 South Freeway, Fort Worth, Texas. Revenue from this agreement is estimated at $3,655.84 annually. All
other terms and conditions of the lease agreement will remain the same.
The office space is located in COUNCIL DISTRICT 8.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendation and execution of the amendment to the lease agreement, funds
will be deposited into the General Fund. The Economic Development Department (and Financial Management Services) is responsible for the
collection and deposit of funds due to the City.
Submitted for City Manager's Office by. Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Robert Sturns 2663