DEPARTMENT: Center City Development & Operations
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: Council District 3
SUBJECT: A lease amendment extending an existing lease for the Council District 3 Field Office at 3315 Sidney Brooks.
SUMMARY:
Ordinance approving the negotiation and execution of a lease amendment extending the existing lease with Brooks Development Authority relocating the Council District 3 Field Office to 3315 Sidney Brooks effective November 1, 2018, contingent upon City Council approval, for the annual rent amount of $8,542.65 for a four year term ending October 31, 2022.
BACKGROUND INFORMATION:
Council District 3 has had a field office at Brooks City Base since January 2006, moving into its present location in March 2010. A relocation opportunity within the adjacent building is available to allow the field office access to a larger space to provide constituent services.
ISSUE:
The existing lease expired in April 2018 and is currently on a month to month holdover. The City must amend the existing lease to allow the City to occupy a new space while extending the term by four years.
|
Item |
Presently |
Proposed |
Net Change |
|
Premises Size |
1,775 SF |
2,700 SF |
925 SF more |
|
Term |
Month to Month |
Ends October 31, 2022 |
4 year extension |
|
Monthly Rent |
$468.00 |
$711.89 |
$243.89 |
|
Services |
Landlord provides all services |
Landlord provides all services |
No change |
|
Termination Right |
Any time after 30 days’ notice |
Any time after 30 days’ notice |
No change |
ALTERNATIVES:
City Council could opt not to approve this lease renewal. Staff would be required to search for other options but it is unlikely that a more appropriate location at a discounted rent could be identified.
FISCAL IMPACT:
The amended lease and extension will allow for a next monthly rent increase of $243.89 but will provide approximately 925 square feet of addition space. During the extended term, monthly rent will be paid pursuant to the following schedule:
|
Term |
Monthly Rent |
|
Month 1 - 48 |
$711.89 |
RECOMMENDATION:
Staff recommends approving an ordinance to negotiate and execute a lease amendment extending the existing lease with Brooks Development Authority relocating the Council District 3 Field Office to 3315 Sidney Brooks effective November 1, 2018 for the annual rent amount of $8,542.65 for a four year term ending October 31, 2022.