INTER-OFFICE MEMORANDUM October 19, 2021
TO: Cynthia Borrego, President, City Council
FROM: Timothy M. Keller, Mayor
SUBJECT:
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Lease Agreement between Zia Community Cares, LLC and the City of Albuquerque at 5400 Gibson Blvd. SE
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The City owns property located at 5400 Gibson Blvd. SE. With the recent acquisition of the property, the City assumed a lease agreement with Zia Community Cares, LLC. Zia provides in-home behavioral health services and currently occupies a portion of Building 11 on the campus. The City and Tenant have mutually agreed to relocate Zia’s services into the main building of the campus. Zia Community Cares, LLC wishes to continue its tenancy and is willing to enter into a new lease directly with the City of Albuquerque.
The proposed Lease Agreement is for a one (1) year term with four (4) one (1) year extension options, provided that lessee is in compliance with the lease and if properly exercised. Family and Community Services has agreed to waive the first month’s rent ($1,500.00) to offset Zia’s moving expenses. The proposed annual rent of the initial term will generate $19,500.00 in revenue for the City, and the extension options will have an annual escalation of 3% per each extended term.
This Lease Agreement is forwarded to City Council for approval.
TITLE/SUBJECT OF LITIGATION: Lease Agreement between Zia Community Cares, LLC and the City of Albuquerque at 5400 Gibson Blvd. SE
Approved: Approved as to Legal Form:
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Sarita Nair Date Esteban A. Aguilar, Jr. Date
Chief Administrative Officer City Attorney
Recommended:
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Carol M. Pierce, Director Date
Family and Community Services