Label
DPU041321OLECLEASEEXTENSION
Engineering Services
Christy Soncrant (x2851)
Revised
Title
Authorizing the mayor to enter into a Lease Extension Agreement with George F. Eyde, LLC for 25,711 square feet of office and storage space in One Lake Erie Center for the Division of Engineering Services; authorizing the expenditure for said lease in an amount not to exceed $179,307; authorizing the expenditure for employee and visitor parking at One Lake Erie Center in an amount not to exceed $37,800; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ordinance numbers 571-00 and 991-00 approved a ten (10) year lease agreement for approximately 25,000 square feet of office space and 711 square feet of file storage area for the Division of Engineering Services at One Lake Erie Center from George F. Eyde, LLC. This space provides sufficient office and meeting space and secured fleet parking for the construction vehicles. Ordinance 239-11 authorized a five year extension to the lease with an annual 2% increase in the cost of rent payments per year. Ordinance 142-16 further extended the lease for an additional five years, expiring on March 31, 2021. New terms have been negotiated to continue the lease for an additional nine months until the newly acquired office space is available. The rate of the lease extension has been agreed upon at $19,923 per month plus cost of employee, client, and visitor parking at an estimated rate of $4,200 per month.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $217,107
- The expenditure budget line item: 1001-35000-5651001STDSTD, 2014-35000-2442001STDSTD, 5040-35000-8C35000PROSUP, 6060-35000-4000512STDSTD, 6070-35000-4000508STDSTD, 607A-35000-4000552STDSTD
- New revenue generated (operational revenue, grants, if any): none
- Revenue budget line item (if any): none
- Are funds budgeted in the current fiscal year (yes/no)?: yes
- Is this a capital project (yes/no)? no
- If yes, is it new or ...
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