Fiscal Note
Funding for the lease expense of $64,400 annually is included as part of the adopted budget for the Fire Administration and Station No. 1 Remodel Capital Project No. 810745. No additional appropriation is required.
Title
Authorizing the execution of a lease with Madison Gas and Electric Company for space located at 650 E. Main Street for use as the temporary relocation of Madison Fire Department Station No. 1.
Body
This resolution authorizes a lease with MG&E for the temporary relocation of Madison Fire Station No. 1 to accommodate the rehab of the station and the build out of the condominium that will replace the administrative office space formerly located at 305-309 West Johnson Street.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Madison hereby authorizes the execution of a lease (the “Lease”) with Madison Gas and Electric (“MG&E”) for space in a building located at 650 E. Main Street ( the “Building”) for use as a temporary location for Madison Fire Station No. 1.
1. Initial Lease Term and Extension: Initial twelve (12) month lease term (the “Initial Lease Term”) commencing on January 1, 2015 (the “Lease Commencement Date”) or upon MG&E receipt of a certificate of occupancy or any other permits for City occupancy and ending on December 31, 2015, unless extended by the City as set forth below. At the end of the Initial Lease Term, provided the City is not in default under the terms and conditions of the Lease, the City may extend the term of the lease for up to two (2) additional months by providing written notice to MG&E at least ninety (90) days prior to expiration of the Initial Lease Term. If the City provides such notice, the Lease shall be extended upon the same terms and conditions as during the Initial Lease Term except that there will be no rent payments during the extended period.
2. Leased Premises: MG&E to provide the City use of the areas depicted in Exhibit A (the “Leased Premises”) consisting of appr...
Click here for full text