HomeMy WebLinkAboutPR 18397: RESCINDING RESOLUTION NO. 14-253 P. R. No. 18397
06/19/14 gt
RESOLUTION NO.
A RESOLUTION RESCINDING RESOLUTION NO. 14-253 IN ITS
ENTIRETY AND AUTHORIZING A SECOND AND FINAL RENEWAL OF
THE LEASE OF THE BUILDING AT 441 AUSTIN AVENUE
WHEREAS, on June 1, 2004, the City of Port Arthur entered into
a three (3) year lease with Hibernia National Bank; and
WHEREAS, Capital One purchased the assets of Hibernia National
Bank and pursuant to Resolution No. 07-163 the City Council
approved an extension of the lease at 441 Austin to Capital One
until May 31, 2008; and
WHEREAS, Capital One decided to remain in downtown Port Arthur
and requested an additional two year lease of a portion of the
building at 441 Austin, which was approved by City Council per
Resolution No. 07-514; and
WHEREAS, per Resolution No. 10-49, Capital One exercised the
first renewal option from June 1, 2010 to May 31, 2012; and
WHEREAS, per Resolution No. 12-094, Capital One and the City
of Port Arthur amended the lease to extend the notice date for the
renewal option from February 29, 2012 until March 31, 2012; and
WHEREAS, per Resolution No. 12-142, Capital One exercised the
first renewal option from June 1, 2012 to May 31, 2014 ; and
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WHEREAS, Capital One wishes to exercise the second and final
renewal option from June 1, 2014 to May 31, 2015, attached hereto
as Exhibit "A"; and
WHEREAS, Resolution No. 14-253 authorizing a thirty (30) day
extension is no longer necessary and should be rescinded in its
entirety.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR, TEXAS:
Section 1 . That the facts and opinions in the preamble are
true and correct.
Section 2 . That Resolution No. 14-253 is hereby rescinded
in its entirety.
Section 3. That the City Council herein authorizes the
City Manager to execute the second and final renewal option of the
lease agreement with Capital One, in substantially the same form
attached hereto as Exhibit "A".
Section 4 . That a copy of the caption of this Resolution
be spread upon the Minutes of the City Council.
READ, ADOPTED AND APPROVED on this day of
, A. D. , 2014, at a Meeting of the City Council of
the City of Port Arthur, Texas, by the following vote: AYES :
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Mayor:
Councilmembers :
NOES:
DELORIS "BOBBIE" PRINCE,
MAYOR
ATTEST:
SHERRI BELLARD,
CITY SECRETARY
APPROVED AS\TO FORM:
/41- k
VALECIA R. ( ZENO,
CITY ATTORNEY
APPROVED FOR ADMINISTRATION:
JOHN A. COMEAUX, P. E. ,
INTERIM CITY MANAGER
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EXHIBIT "A"
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Capital One,N.A. (646)753-0560)
capitari Real Estate Administration (631)531-2724 Fax
275 Broadhollow Road Jose.Soriano
' Melville,NY 11747 Qcapitalone.com
Certified Mail
May 20,2014
City of Port Arthur
John A Comeaux P.E.
P.O.Box1089
Port Arthur TX 77641-1089
RE: Third Amendment to Lease Agreement(Amendment)dated April 26,2012,Lease Agreement"Lease"
dated December 6,3002,by and between City of Port Arthur("Landlord")and Capital One,N.A
("Tenant")for the premises located at 441 Austin Avenue Suite A Port Arthur Tx 77640.
Dear Mr.Comeaux,
This letter will serve as notice that Capital One,N.A.,as tenant,hereby exercises the extension term as per Article 5
of the"Third Amendment to Lease"Amendment"for an additional two(2)year period. Article 5 of said
amendment provides for written notice to Landlord which this letter satisfies.The renewal term shall commence
June 1,2014 and expire on May 31,2016. The annual rent for the first extension term shall be as stated in the
"Lease". There are no renewal options remaining.
Please acknowledge your receipt and confirmation of the above by signing the enclosed copy of this letter where
indicated and returning to my attention at Capital One,N.A.,Real Estate Administration,275 Broad Hollow Road,
Melville,NY 11747.
I can be reached at 646-753-0506 should you have any questions relative to this matter.
Thank you for your cooperation.
Co,•'ally,
• • Soriano
ager
•eal Estate Administration
RECEIVED AND CONFIRMED
This day of ,2014
City of Port Arthur
By
Cc:Val Tizeno,City Attorney
City of Port Arthur P 0 Box 1089 Port Arthur Tx
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