Fiscal Note
The proposed resolution authorizes the Clerk's Office to execute a gross lease with Oakleaf Properties I, LLC for a 36-month lease term beginning June 1, 2026. Under the terms of the lease, the rent will be $6,000 per month. The cost in 2026 will be $42,000 and the total cost over the lease term is estimated to be $216,000. The lease provides for common area maintenance (CAM) operating expenses typically incurred by the lessee under a triple-net lease, including: real estate taxes, insurance, snow removal, landscaping services, repairs and maintenance, water costs, and sewer costs. The 2026 Adopted Budget for the Clerk's Office did not include funding for this lease, as costs were not known at the time of budget development. The Clerk's Office and Finance Department will monitor the Clerk's operating budget through the budget projection process. If needed, funds may be transferred to the Clerk's office through the mid-year or year-end appropriation resolutions to ensure sufficient funding is available for 2026 costs. Funding for 2027 and 2028 lease costs will be built into the Clerk's operating budget requests. At this time, no additional appropriation is required.
Title
Authorizing the City’s execution of a lease for a 36-month term beginning June 1, 2026 between the City of Madison and Oakleaf Properties I LLC for the property at 2041 S Stoughton Rd for Clerks Office storage. (District 16)
Body
WHEREAS, the Elections Center / Clerks Office Facility Remodel project located at the Dane County Elections Center at 2002 Pankratz Street will be underway beginning in June 2026 and is expected to be a multi-year project; and
WHEREAS, the City of Madison Clerk’s Office is using a portion of 2002 Pankratz Street for storage of election equipment and supplies that must be vacated during the renovation of this building; and
WHERAS, the City of Madison and Oakleaf Properties I LLC desire to enter into a lease (the “Lease”) for the premises at 2041 S Stoughton Rd to allow for temporary storage of election equipment and supplies during said remodel project.
NOW THEREFORE BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease with Oakleaf Properties I LLC substantially though not exclusively, on the terms and conditions detailed in the Letter of Intent attached to this resolution as Exhibit I - Letter of Intent for a Lease.
BE IT RESOLVED that the Mayor and City Clerk are authorized to execute, deliver and record a Memorandum of Lease and take any other further action required to accomplish the purpose of this resolution in a form approved by the City Attorney.