SUBJECT
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Motion to accept U.S. Postal Service notice of lease renewal option for property located at 1300 Matamoros for a five-year term beginning June 1, 2025 - May 31, 2030, with an annual rental rate set at $108,000, one-hundred eight thousand dollars and no cents.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The United States Postal Service has notified the City of Laredo of their interest to renew lease approved with ordinance 2020-O-066 on June 1, 2020, of 1300 Matamoros with no amendments to original existing lease.
COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
Staff recommends approval.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: Click or tap here to enter text.
Source of Funds: Click or tap here to enter text.
Account #: 101-0000-361-1091
Change Order: Exceeds 25% Y/N: Click or tap here to enter text.
FINANCIAL IMPACT:
Revenue collection of $108,000.00.