PRESENTER: Presenter
Matthew Eckmann, Assistant Director of Public Works
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SUBJECT: Title
Discuss and Consider the approval of an amendment to the lease agreement between the City of New Braunfels and New Braunfels Utilities for the lease of the real property addressed as 355 FM 306.
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DEPARTMENT: City Manager’s Office and Public Works
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COUNCIL DISTRICTS IMPACTED: All
BACKGROUND INFORMATION:
In July 2020, NBU agreed to the transfer of their service center property located at 355 FM 306 to the City. Concurrently with that transfer, the City and NBU entered into a lease agreement with an effective date of August 1, 2020 for NBU to lease the property back from the City while they designed and constructed their new headquarters building. The current lease has an expiration date of December 31, 2023.
ISSUE:
Due to unforeseen delays in the headquarters project, NBU has requested to extend the lease agreement until December 31, 2027.
FISCAL IMPACT:
All operational costs associated with the property are the responsibility of NBU so the City has no costs associated with continued use of the site by NBU.
Recommendation
RECOMMENDATION:
Staff recommends approval of this amendment.