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FARGO — The Fargo City Commission has agreed to lease city-owned land to the Fargo Moorhead West Fargo Chamber of Commerce for that organization’s new headquarters.
The Commission voted unanimously Tuesday, May 31, to approve the lease, which calls for building the Chamber’s “Business Resource Hub” at 2001 44th St. S., on the northwest side of the Convention and Visitor’s Bureau parking lot near the intersection of Interstate 94 and 45th Street South.
The Chamber said it will now seek proposals for an architect and a general contractor for the building, which is expected to be 10,000 to 14,000 square feet in size. The intent is to break ground this fall and build the facility in about a year’s time.
The lease calls for the Chamber to pay $1,000 per month for the land. The initial lease is for 20 years, with an option for three extensions of 10 years apiece.
Chamber President Shannon Full told the commission that the building is expected to cost $2 million to $3 million, and that the Chamber will be paying taxes on it.
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Full said the space will be designed to help small businesses get started and grow.
Commissioner John Strand questioned if the Chamber should get a significant break on its lease from the current market value of the land. He made a motion to increase the lease rate to $2,000 per month; however, the motion died for a lack of a second.
The commission voted 4-1 to approve the lease, with Strand casting the lone vote against the measure.
The lease contains a clause allowing the city to sell the property, but the Chamber has the right of first refusal on any such deal.
In a letter to the City Commission from the Chamber’s board of directors, the land was described as being “of strategic importance.”
The Business Resource Hub site is “highly visible and centralized with ease of access to parking and navigating.”
The hub will have offices, conference rooms, collaboration spaces and a boardroom.
