HomeMy WebLinkAbout2006 Resolution No. 073,
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• RESOLUTION NO.~
SERIES OF 2006
CONTIIACJ: HQ, ~ '/--Jpolo
A RESOLUTION SUPPORTING THE ENGLEWOOD ENVIRONMENTAL FOUNDATION,
INC. (EE.:I) SUBLEASE OF THE VACANT PLAZA RETAIL SPACE LOCATED AT THE
CITYCENTER ENGLEWOOD SITE .
WHEREAS, in 1997 the City Council of the City of Englewood, Colorado authorized the
creotion of the Englewood Environmental Foundation, Inc . (EEFI), as a nonprofit development
corporation to funher the redevelopment of the Cinderella City site; and
WHEREAS, The Englewood Environmental Foundation was formed to relieve the burdens
which would otherwise be assumed by the City of Englewood. Colorado, in connection with the
environmental remediation, land use planning and preparation for redevelopment of the
Cinderella City shopping center; and
WHEREAS. the Englewood Environmental Foundation was formed to provide support for the
redevelopment and enhancement of the City's commercial environment and is a separate and
distinct corporation; and
WHEREAS , Englewood Environmental Foundation, Inc . has received a proposal from an
architectural firm for the reuse of the vacant plaza retail space; and
WHEREAS. th e architectural firm v•ill use approximately 6.000 square feet for their needs and
• the remainder will be de\'eloped as profcssion ol office suites that will be subleased ; and
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WHEREAS , the Englewood Environmental Foundation . Inc. Propeny Re view Committee has
reviewed this proposal and recornmended appro\<al;
NOW , THEREFORE . BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD , COLORADO. THAT :
Section I. The City Council of the City of Englewood, Colorado, hereb y supports the
Englewood Environmental Foundation , Inc. sublease of the vacant Plaza retail space located at
the CityCenter Englewood site.
~ This resolution of support in no way waives or delegates the City 's regulatory
powers, duties and responsibilities with respect to zoning and gvvcrnmental issues.
ADOPTED AND APPROVED this 7• of August , :006 .
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I, Loucrishla A. Ellis, Cily Clerk for the City of Englewood, Co , o, hereby cenify lhe
•bove i1 a true copy of Resolution No .~. Series of2006 -1 •
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COUNCIL COMMUNICATION
Date: Agenda Item : Subject:
August 7, 2006 11 C ii Support for EEFI Subleasing the Vacant Plaza Retail
Space at CityCenter
Initiated By:
Englewood En vi ronm ental Foundation, Inc. IEEFI)
I Staff Source :
Robert Simpson, EEFI Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
In 1997, City Co un cil authorized the creation of the En r,lewood En vironmental Foundation, Inc.
( EEFI) as a nonprofi t development corpora tion to further the rede ve lopment of the CityCenter
Englewood site.
RECOMMENDED ACTION
Staff recommends that City Council adopt a Resolution supporting EEFI in leasing the vaca nt plaza
retail space located at CityCenter Englewood.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
EEFI has recei ved a proposal for the reuse of the vacant plaza retail space. The proposal
was reviewed and recommended for approval by th e EEFI Property Review Committee.
The user is an architectural firm that will lease the entire space and convert it to office
suites. The architectural firm will use approximately 6,000 square feet for their needs and
the remainder will be de ve loped as professi onal office suites that will be su bleased. This
60-month lease will activa te th ~ vacant plaza space and prov ide the following benefits:
• Create approximately 16 new i Jbs associated with the architectural firm.
• The professional office suites will attract new office users to Englewood and spur
additional economic activity at CityCenter. The professional office suites will
function similar to an office incubator for small-scale office users. Over time, these
users may take a permanent location elsewhere in Englewood.
• Th e site reuse will enable the reco nfiguration of the space, which w i'' •ahance the
reu se and marketability of this spa ce.
• Revenues from the lease will support public-related pr0!ect activities at CityCenter
Englewood over time.
FINANCIAL IMPACT
There are no increased financial impacts associated with this Resolution .
• LIST OF ATTACHMENTS
Resolution