PRESENTER: Presenter
Matthew Eckmann, Assistant Director of Public Works
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SUBJECT: Title
Approval of and authorization for the City Manager to execute a lease agreement between the City of New Braunfels and Alamo Colleges District for a 27,454 square foot building on the Central Texas Technology Center Campus addressed at 2189 FM 758, Building B on the New Braunfels National Airport property.
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DEPARTMENT: Public Works/Economic and Community Development
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COUNCIL DISTRICTS IMPACTED: District 2
BACKGROUND INFORMATION:
The City of New Braunfels in partnership with the City of Seguin have constructed two buildings on the Central Texas Technology Center Campus located on the New Braunfels National Airport Property which have been occupied exclusively by Alamo Colleges District since opening in 2004. With recent changes in course offerings, Alamo Colleges has agreed to terminate their occupancy of Building A and execute a new lease with the City of New Braunfels to occupy Building B. The new five year lease will begin October 1, 2022, and will provide a lease payment sufficient to cover the ground lease required by the New Braunfels National Airport as well as capital building maintenance items.
ISSUE:
Securing a new lease with Alamo Colleges District for the occupancy of Building B on the Central Texas Technology Center Campus.
FISCAL IMPACT:
An annual lease payment in the amount of $109, 816 will be received by Alamo Colleges District in quarterly installments. The lease payment will be sufficient to cover the required ground lease payment to the New Braunfels National Airport as well as the necessary contribution to the building capital replacement fund.
Recommendation
RECOMMENDATION:
Staff recommends approval of the lease agreement.