Title
Public Hearing and Action on Resolution 20-029, a Resolution of Intent to Lease Real Property to Northern Plains Power Technologies.
Body
Summary:
Northern Plains Power Technologies (NPPT) has been leasing space in the Research and Technology Center since 2012. Northern Plains Power Technologies is seeking to renew their lease on a month-to-month basis.
Background:
Northern Plains Power Technologies has been leasing space in the Research and Technology Center at 807 32nd Avenue since 2012. The most recent lease agreement expired on December 31, 2019. Staff has been working with the company to determine its intentions on a location decision and was recently informed the company plans to vacate the premise during the second quarter of 2020.
The City is proposing to lease space in the Research and Technology Center located at 807 32nd Avenue to Northern Plains Power Technologies. The lease will be on a month-to-month basis for a period not to exceed one year. Staff is proposing a lease rate of $10.00 per square foot based upon the occupied space of 2,066 square feet. The Notice of Public Hearing was advertised one time 10 days prior to the hearing. This resolution will allow the City to enter into a lease agreement with Northern Plains Power Technologies on month to month basis.
Fiscal Impact:
Monthly revenue = $1,721.66
Recommendation
Recommendation:
Staff recommends approval of the resolution of intent to lease real property to Northern Plains Power Technologies.
Body2
Attachments:
Memo
Resolution
Lease Agreement
Notice of Public Hearing