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City renews short-term ATM lease with Wells Fargo at 101 East Nolte
Summary
Council authorized a lease extension with Wells Fargo to keep an ATM at 101 East Nolte in operation while the bank moves locations; the 18-month lease starts May 1 and includes an early termination option.
The council approved a resolution authorizing the city manager to execute an 18-month ATM lease agreement with Wells Fargo Bank, N.A., to keep an ATM on city-owned property at 101 East Nolte after the bank relocates its branch.
Josh (city staff) said the lease would begin May 1 and carry an 18-month term. Monthly rent was stated as $750. Either party may terminate the agreement nine months after the rent commencement date by providing 60 days’ notice, giving the city flexibility if Nolte redevelopment proceeds.
Josh said the arrangement preserves customer access to an ATM while the city continues work on the Nolte project. Council approved the resolution by voice vote.
No additional changes to the Nolte project schedule or costs were announced at the meeting.
