HomeMy WebLinkAbout1991-05-28 - AGENDA REPORTS - LEASE CITY HALL BLDG (2)NEW BUSINESS
DATE:
SUBJECT:
DEPARTMENT:
BACKGROUND
AGENDA REPORT
City Manager
Item to be presented
Andrea Daroca '140
May 28, 1991
Lease of First Floor of City Hall Building
Finance
The City Council approved the City Manager's recommendation earlier this year
for staff to look into acquiring additional space on the first floor. Due to
the fact that City staff is expanding and will require additional office space,
staff has met with Saunders Development to discuss the option to lease a portion
of the first floor of the present City Hall building. The proposed plan is to
house the Parks and Recreation Department on the first floor and relocate
Finance to the present Parks and Recreation area. Attached is the floor layout
for the first floor, which amounts to 4,413 square feet. Presently, the
highlights of the negotiated lease include:
$1.80 per square foot
Two-year lease flat rate
Two one-year renewals at 85% of the fair market rental
All tenant improvements paid by Saunders ($32,700 estimated)
Four months at one-half rent
There presently remain a few minor negotiations prior to completion of the lease.
RECOMMENDATION
Staff's recommendation is for the City Council to approve the additional leased
space on the first floor, allow the Director of Finance to complete negotiations
with Saunders Development, and direct the. City Manager to execute lease
agreement.
ATTACHMENT
Floor plan for first floor space
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Agenda Item:
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