Title
License Agreement with the Arizona Board of Regents for the Use of City-Owned Land at 1st Street and McKinley Street for Construction Staging and Parking - District 7
Description
Authorize the City Manager, or his designee, to execute a license with the Arizona Board of Regents, or its designee, for the use of City-owned land located at 1st Street and McKinley Street for construction staging and parking. Further request to authorize the City Treasurer to accept all necessary funds related to this item.
Report
Summary
The Community and Economic Development Department (CEDD) is working with the Arizona Board of Regents and the University of Arizona to develop the Center for Advanced Molecular and Immological Therapies building at the southwest corner of 7th Street and Fillmore Street in Downtown Phoenix. At the height of construction, the project will require approximately 250 construction workers onsite daily. The University of Arizona has requested use of additional, vacant City-owned properties for construction staging and parking, including several parcels located at the southwest and southeast corners of 1st Street and McKinley Street in Downtown Phoenix.
The license fee will be based on a prorated rental rate of $1 per square foot per year and/or other valuable consideration. Each license may contain other terms and conditions acceptable to the City. There are currently several construction staging licenses on City parcels in Downtown Phoenix including two on the Phoenix Biomedical Core for projects related to the 850 PBC Building. The terms of this license, including the rental rate of $1 per square foot, will be consistent with other licenses executed to support Phoenix Bioscience Core growth.
Contract Term
The license term is one year. The license may be extended on a month-to-month basis at the City's discretion.
Financial Impact
The license fee will be based on a prorated rental rate of $1 per square foot per year and/or other valuable consideration. Fees received would be deposited into CEDD's Downtown Community Reinvestment Fund. This action will have no impact to the General Fund.
Location
713, 714, 717, 718, 721, and 722 N. 1st Street, and 714, 718, and 722 N. 2nd Street.
Council District: 7
Department
Responsible Department
This item is submitted by Deputy City Manager John Chan and the Community and Economic Development Department.