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Dardenne Prairie continues harvesting value from city hall space

Dardenne Prairie

Dardenne Prairie City Hall

The Dardenne Prairie City Hall is a large, attractive building in a desirable location.  It was built to provide extra space for potential increases in city staff as the city grows. However, the mayor and Board of Aldermen have been creatively harvesting some of the value from the building. The city has been leasing some of that future growth space on the second floor since 2011, shortly after the city hall building was completed.

Current tenants include Edward Jones-Gary Weber, The John Dickey Agency-Shelter Insurance, CNC Commercial Group, Class A Capital, Jorens Family Agency-Farmers Insurance, Le Chateau and Klingerman Law Firm. Total annual revenue from these tenant leases is about $55,000.

Edward D. Jones & Co., L.P., doing business as Edward Jones has been leasing 940 square feet on the second floor since Nov. 1, 2016. The company is free to make alterations within that 940 square feet of space, including subdividing to include a second, smaller office and an open area.

At the Nov. 6 Board of Aldermen Meeting, the board voted 6-0 to approve Bill No. 19-45, extending the Jones lease until Dec. 31, 2026.  With this renewal, the lease payment now will be subject to adjustment on the anniversary month each year based on the Urban Consumer Price Index for the St. Louis Missouri-Illinois Metropolitan Area.  That same adjustment option will be added to all tenant leases as they renew.

Lease funds will continue to be added to the city’s general revenue account.

 

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