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CC Work Session <br />Meeting Date: 10/13/2015 <br />Information <br />Title: <br />Discuss Potential Tenant for Leasing Space on the Second Floor of the Ramsey Municipal Center <br />Purpose/Background: <br />2.3. <br />Purpose <br />Discuss Potential tenant for leasing space on the second floor of the Ramsey Municipal Center. Specifically, Staff is <br />asking: <br />(1) is the Council comfortable with the proposed user? <br />(2) is the Council comfortable with the "preliminary term sheet?" <br />(3) is the Council comfortable with the "preliminary floor plan?" <br />If the Council is generally comfortable with the items outlined above, Staff and Premier Commercial Realty will <br />negotiate a lease agreement with the prospect. That agreement will be brought back to the City Council for further/ <br />final review. <br />Background <br />In August 2014, the Council directed Staff to market roughly 3,000 square feet vacant office space located on the <br />second floor of the Ramsey Municipal Center for lease. As part of that effort, the City hired a third party <br />broker --Premier Commercial Realty (Marty Fisher). Attached to this case is the marketing brochure. <br />In August of 2014, the Council also set an "asking price" and basic terms conditions for a potential lease (in closed <br />session). From a preliminary perspective, the potential lease agreement outlined in this case (below) appears to <br />meet said general terms. <br />In September of 2015, Premier Commercial Realty approached Staff with a potential lessor --Edward Jones. Please <br />see attached for specifics. <br />If the City leases this space, the second floor of City Hall still has capacity for at least twelve additional work <br />stations. This is more than the amount of additional administrative employees that are anticipated at full <br />development, even if the City adds additional operations such as a parks and recreation department, or a utility <br />billing staff (currently contracted with a private firm). Police, Fire, and Public Works have separate office areas to <br />provide for growth in these departments. <br />There will be no significant impact to current operations if this space is leased. <br />Timeframe: <br />5-20 minutes <br />Funding Source: <br />NA <br />Responsible Party(ies): <br />Patrick Brama <br />