HomeMy WebLinkAbout(0109) M&C 21-0496City of Fort Worth, Texas
Mayor and Council Communication
DATE: 06/22/21 M&C FILE NUMBER: M&C 21-0496
LOG NAME: 17SCORELEASE2NDRENEWAL
SUBJECT
(CD 8) Authorize Execution of a Lease Agreement with the SCORE Foundation for Office Space in the Fort Worth Business Assistance Center
Located at 1150 South Freeway
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to execute a three-year Lease Agreement with the SCORE Foundation for
office space in the Fort Worth Business Assistance Center located at 1150 South Freeway.
DISCUSSION:
The historic James E. Guinn school campus is owned by the City of Fort Worth and managed by the Economic Development Department. The
Fort Worth Business Assistance Center is located in the former middle school on the campus and provides office, training and conference room
space to organizations involved in small business development.
The lease terms of the Agreement between the SCORE Foundation (Fort Worth Chapter 120) (Lessee) and the City of Fort Worth (Lessor) are:
• The lease begins August 1, 2021 and continues for three -years, with one three-year renewal term;
• The lease space consists of Suite 108 -112 (exclusive of Suite 109 which is leased to the Organization of Hispanic Contractors Inc. d/b/a
Regional Hispanic Contractors Association) located at 1150 South Freeway and the base rent will be $12.52 per square foot per year plus a
monthly charge of $13.94 per phone line for telephone expenses. The space will be used solely for the purpose of office space and/or
education and training;
• Lessor will cover building utilities, maintenance, security, janitorial and any taxes, if any, imposed on the property; and
• Lessee may terminate the lease for cause or convenience and shall provide a 90-day Notice of Intent to Terminate.
The total annual revenue collected from this Agreement will be $8,350.80 which represents a total of $25,052.40 over the three-year term of the
Agreement period.
Of the total amount of $8,350.80 to be received during the first year of the Agreement, the amount of $1,391.80 will be received in FY 2021 and the
remaining $6,959.00 will be received in FY 2022.
The James E. Guinn School campus 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 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
Expedited