City of Albuquerque - File #: EC-22-65

• File #: EC-22-65
• Type: Executive Communication
• Status: Approved
• File created: 4/18/2022
• In control: City Council
• Final action: 6/6/2022
• Title: Lease Agreement between the Albuquerque Hispano Chamber of Commerce, and the City of Albuquerque

Date	Action By	Action	Result
6/6/2022	City Council	Approved	Pass
5/16/2022	City Council	Accepted with a recommendation Be Approved
5/9/2022	Finance & Government Operations Committee	Sent to Council with a recommendation of Be Approved	Pass
4/18/2022	City Council	Received and Referred
4/18/2022	President	Referred

INTER-OFFICE MEMORANDUM                                                                                    March 17, 2022

TO:                                          Isaac Benton, City Council President

FROM:                     Timothy M. Keller, Mayor

SUBJECT:                     title

Lease Agreement between the Albuquerque Hispano Chamber of Commerce, and the City of Albuquerque

body

The City of Albuquerque’s Economic Development Department wishes to lease office space from the Albuquerque Hispano Chamber of Commerce located at 1309 4^th Street SW for Minority Business Development Agency (“MBDA”) New Mexico Business Center.  The Center will serve mid-sized companies, defined as those with $1 million or more in annual gross revenue, and aspiring mid-size companies with $500,000 or more in revenue that are pursuing growth and will serve all MBDA-eligible minority business enterprises (MBE’s). The Center will focus client recruitment and contract opportunity identification on priority high growth sectors for the state such as biosciences, aerospace and drone technology, energy, defense, construction, healthcare, optics and photonics, cybersecurity, advanced manufacturing, and film and television.

The proposed Lease Agreement is for a twenty-four (24) month period and two additional one (1) year period options to renew. The proposed monthly rent is $1,083.33 for a total of $26,000 for twenty-four (24) months.

This Lease Agreement is forwarded to City Council for approval.

Title/Subject of Legislation:                      Lease Agreement between the Albuquerque Hispano Chamber of Commerce, and the City of Albuquerque

Approved:                                                                                                         

Sarita Nair                                                    Date                                          

Chief Administrative Officer                                          

Recommended:                                                                                    

_________________________                     

Charles Ashley III                                          Date                     

Director, Economic Development Department