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Home My WebLink About2000 Resolution No. 076• RESOLUTION NO .~ SERIES OF 2000 A RESOLUTION SUPPORTING THE DEAL SHEET BETWEEN ENGLEWOOD ENVIRONMENTAL FOUNDATION AND DAVID TAYLOR DANCE THEA1'RE . WHEREAS , The Englewood Environmental Foundation woa formed to relieve the burdens which would otherwise be a88umed by tbe City of Englewood, Colorado, in connection witb tbe 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 eupport for the redevelopment and enhancement of the City's commercial environment and is a separate and distinct corporation; and WHEREAS, the City Council of the City of Englewood , Colorado, supporte~ !!:c Master Plan proposed on August 10, 1998 by the Englewood Environmental Foundation; NOW , THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE Cl'l'Y OF ENGLEWOOD, COLORADO . THAT: ~-The City Council of the Cit. ,f Englewood , Colorado, hereby supports the Deal Sheet between the Englewood Environmental Foundation and David Taylor Dance Theatre, attached as "Exhibit A", for space at IJ1P. Englewood CityCenter. ~ This resolution of suppo c, Lo no way waives or delegates the City's regulatory powers, duties and responsibilities with respect to wning and governmental issues . ADOPTED AND APPROVED this 21• dsy of August , 2000 . SUB-UASED PREMISES: TRANSAcnoN TYPE: TERM: PRICE: DEAL SHEET DAVIDTAY'i,OR ' Englewood Environmental Fo1111diltion, Inc., Landlord and David Taylor Dance Theatre, a non-profit corp., Leuee. Approximately 9,200 square feet on the first (ll1'01111d) floor of the propoeed Baily's Buildin11. The location of the aut.leaoed premiaee shall be determined by EFF in its sole discretion. Space lease. Five (5) years with three, five year options to renew. A. Coste to David Taylor Dance 1boatn,: I. Monthly Rent. A five year lease, with monthly "rent" payments of$572.92 , with renewable options every 5 years. 2. The David Taylor Dance Theatn, would provide a payback to EEF ofonc-half(l/2) ofEEFs additional "final tenant finish ccate• amo1111t, of up to $137,500, over a five year period. This payback would amo1111t to "reimbursement" of $6,875 per year . If the lease is terminated before this twenty year period, tbe total sball become due upon such termination. 3. For the term of the lease and any renewals: The David Taylor Dance Tbeatn, would present four prorrams annually in tne outdoor piazz• areas at City Center Englewood , free to the general public: two of these being "major", and two ''2'" being "minor ... as oripllally described to Council in the May 11" proposal [Ste Exhibit A]. The David Taylor Dance Theatn, would offer all Englewood residents and City Center Englewood complex merchants discount:! on classes and self produced performances the David Taylor Dance Theatre presents elsew bere in the metro area . Tbe David Taylor Dance Theatre will offer scholarships to ALL Englewood Residents who fall below the "poverty limit" income for a family of four ($31 ,0501 as stipulated by the Englewood Housing Authority . ! + T A NOTE: NOTE: The David Taylor Dance Th••~ woulci cooperate 1111d network with E11pwooci Public Schooll and tho EnJlewooci Pub and Recreation towuci drn,lopiD1 dance claaae1 and p,.,...mmins. B. Coats to En11lewooci Environmental Fo11nciatio11: I. The "core & shell• finish (baaed on Miller Weinprten'1 updated estimate of$57.50 sq.lft.) with a li.aai. amount not to exceed $529,000. 2. An additiona amount not to exceed $275,000 allocated by EEF for "final tenant finish e01ts• in the new David Taylor Dance Theatre 9,200 ,qJft. ,pace to be paid upon completion of tenants' obligationa 11nder thia Asreement. 3. $72,000 paid to the David Taylor Dance Theatre dlll'UII the first year of occupancy to help offset movin1 upe!IAI, advertisin1, and proarammin& coats, u part of• total nf $240,000 paid to David Taylor Dance Theatre durin& on!:, the first five yean of the twenty yeu leue, on the "staircase" payment plan as outlined in David Taylor Dance Theatre's May 11"' propooal [See Exhibit A]: $72,000 dlll'UII the first year of occupancy; $60,000 during the second year; $48,000 the third year; $36,000 the fourth; and $24,000 durini the fifth yeu. Price does Mt include any tap fees, (ony tap fees required as a result of increasing size of building w .ll be obligation of EEF). All tenant finish not included ir. Exhibit B is the respo11aibility of David Taylor Dance Theatre. CONDITION OF 'IJiE LEASED PREMISES: EEF sr ,II deli•·er to David Taylor Dance Theatre the leased premises in the cowlition set forth on E&bilili..A, with the followin1 lir4itatir ru. I. $529,000 for the ·core & shell" fini.sh (baaed on Miller Weingarten'• updated estimate of$57.50 sqJ ft.). 2. An additional amount up to a ceiling of S275,000 allocated by the City for "final tenant liniah coats" in the new David Taylor Dance Theatre 9,200 sq Jft . space . Painting a nd floor finishing, studio dwice floor and carpet, and any and all other coats above S275 ,000. will be the responsibility of David Taylor Dance Theatre. CONTINGENCY DATE : In the event David Taylor Dance Theatre faill to provide evidence, satisfactory to EEF that David Taylor Dance Theatre has sufficient funds to complete the project by July I, 2001, either party shall have the opti on to cancel th.is lease . 0BLIOA'l!(0"8 or TBNAN'!.': , CAM CBAllGES: TAXES : USES: ASSIGNMENT AND SUB-LET: MAINTENANCE AND REPAIRS: DAMAGE; DESTRUCTION; INSURANCE : Ol•.Jl l'l 1. Provide dNilll with coat 11timate1 fur tha lw,od -· Tba duip 1ull be at leut equal to the Civic Center 1tandardl. 2. Cooperate with EFF in completinc the de•icn o.h· ·e leued premiae, to meet the requirementa of tha p11val contractor of the buildinc. 3. Pr,,vide evidence of au.!ficient funds to complete tenant linish u delicned. 4. Complete all -fiDal tenant finiah" accordinc to approvod plan includinc any items not provided by the landlord u described in "Exhibit B". David Taylor Dance Theatre shall pay a pro rata ,ban of tha CAM charces (u provided in the CAM Acreement with Wa!Mart a1 aupplemented by the Joinder Acreement between EEF and WME , referred to herein a1 the "Site CAM charresi, b ... d upon squan footace of the buildinc. David Taylor Dance Theatre shall allo pay a pro-rata charp of any b·.aildinc CAM coata (i.e. buildinc inaunmce, utilitin, taxll 1-below], common mointenance etc.) David Taylor Dance Theatre will provide its own janitorial. David Taylor Dance Theatre shall have the richt to have the Leased Premises determined to be ta: exemp~ and WME ahall cooperate with David Taylor Dllilt9 Theatre in obtaininc a tax exemption. To the extent thf r .cased Premiael are not exempt, EEF shall pay a pro rata sha,, of the real eatate taxes baaed upon the sq uare footage of the L ·•ildinJ. Dance lessons and rehearsals with related office and storace uses . The Lessee may not as&iiD or sublet the lell..Sb1 ~:"1!m.ises. Tenant is responsible for all ins ide premises costs including repair and maintenance of walls . re strooms and plumbing, HV AC, and electrioal. Tenant maintains its pro-rata share of fire and casualty insurance mointained by owner as part ofbuildinJ CAl\f charges. Tenant will also ma intain liability inaunmce . COMMON ABBA: Coot to maintain IIIJ COIIIIIIOII ..... iDlide bllildlas, lliilf, will 1, be put al Ilia Baildlllt CAM alwpl and ehancl hr Ille n, I LaJldlard-D8'icl TaJlorl)uce Theatre, pzo-rata hued OIi aquan &iotap. P.·...l ;.Al., U • • COUNCILCOIIIIUNICATION Date Agendaltam August 17, 2000 11 CV lullflat RNOlutlon aupporUng the propoeed Deal ShNt wtth Oavtd Taylor Dance Thealre for aubleae of space In the Bally Building INITIATED BY Chy Manage~• Office I STAFF SOURCE Michael Flaherty, Assistant Chy Manager COUNCIL GOAL AND PREVIOUS COUNCIL ACTION In 1998 Chy Council designated approximately 15,000 square feet of apace on the second ffoor of the Englewood Civic Center for future cultural uses. The Oevid Taylor Dance Theatre (DTDT) had origlnaly been proposed u part of the City's cultural fac ilities on Iha second ffoor of Civic Center. However, due to structural laaues, the Chy and OTOT jointly determined that their planned use -nol feaalble . Since that time , Chy staff hu worked with DTDT in attempting lo find an alternate location wtthln ChyCenter. After dlscusaions with representatives of MIHer- Weingarten and T,yba Archttects, Iha Chy and OTOT have determined that apace on the lower level of the proposed Bally building as the preferred location for DTDT. RECOMMENDED ACTION Staff recommends council approval of Iha reaolution supp.. . 1g tho Englewood Environmental Foundation to enter into an agreement wtth DTDT, based on the Deal Sheet developed at request of Chy Council . BACKGOUND In an effort lo activate and energize CiiyCenter Englewood and lo provide for a unique character to the development, the Chy has explored opportunities for cooperation with cultural organizations at ChyCenter. City Council has attempted eve the past two years to secure the David Taylor Dance Theatre u a part cl the ChyCenter Englewood project. The Chy seeks to support the Englewood Environmental FoundRlion in tts negotiation of a sublease wtth DTDT for use of approximately 9200 sq . It. in the lower level of the Baily's Building and lo enter into an agreement wtth DTDT for the purchase of services includling four ansual pertormances lo be heid at ChyCenter Englewood and discounted class offerings to Englewood residents, businesses and the Englewood Schools. The proposed deal sheet Is Intended to represent the basic elements of the agreement between the parties. rlNANCIAL IMPACT By City of Englewood Initial cost of "core and shell" finish to be pro vided by Chy Maximum Chy expenditure for tenant finish Staircase payments lo DTDT by Ciiy over live years Benefit 10 City of Englewooc Rental µaymenls by Davi d Taylor Programming by Davi d Taylor $529,000 $275,000 $240,000 $ 34,375 (first five years)" $ 360 ,000-in-kind (f irst five years) Rental payments are subject lo renegoti ation for each addttional five year option pence . LIST OF ATTACHMENTS Council Resolution Proposed Deal Sheet