Label
TDOT120622OLECLEASE
Engineering and Construction Management
Christy Soncrant (x2851)
Title
Authorizing the mayor to enter into a lease agreement with GEYDE Development for 25,711 square feet of office and storage space along with employee, client, and visitor parking at One Lake Erie Center for the Division of Engineering and Construction Management for a term of thirteen years; authorizing the expenditure from the General Fund, the Capital Improvement Program Fund, the Tax Road Improvement Fund, the Water Operating Fund, the Sewer Operating Fund, and the Storm Water Utility Operating Fund for said lease; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Division of Engineering and Construction Management currently operates offices on the third floor of One Lake Erie Center, 600 Jefferson Ave. through a lease agreement with GEYDE Development. New terms have been negotiated to relocate to the second floor so that necessary building repairs can be done to the third floor. The first year (2023) of the new lease, Engineering & Construction Management will continue to occupy the third floor while the second floor is prepared for occupancy. Beginning the second year of the lease Engineering & Construction Management will move to the second floor, which it will occupy for the remaining 12 years on the term of the lease. This location provides sufficient office and meeting space along with secured fleet parking for construction vehicles to meet the needs of the division throughout the term of the lease. This ordinance authorizes this lease amount, as well as an annual increase in rent and parking of 2% annually.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to enter into a lease agreement with George F. Eyde, LLC for 25,000 square feet of office space, 711 square feet of storage space in One Lake Erie Center, and employee, client, and visitor parking for the Division of...
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