Fiscal Note
Funds for the temporary lease locations will be split between the operating and capital budget. During the life of the lease the operating budget will contribute 36% of the annual lease costs while the capital budget will contribute 64%. Operating costs will be factored into future budgets for the impacted agencies; ongoing capital funding for the MMB Renovation project will include the capital portion of lease costs. Due to the timing of the lease there will be no charges incurred during the 2016 operating budget.
Title
Authorizing the execution of a lease at 30 West Mifflin Street for the temporary relocation of a portion of the City employees currently located in the Madison Municipal Building during the building’s renovations.
Body
On November 10, 2015, the Common Council approved the capital budget for renovations to the Madison Municipal Building (“MMB”). Renovations will require the temporary relocation of City of Madison employees currently working in the MMB. Space within the building located at 30 West Mifflin Street (the “Building”) has been identified by staff as suitable for accommodating a portion of the City employees needing relocation. The construction schedule for the MMB renovations is estimated at eighteen (18) to twenty-four (24) months. During construction, City employees will be relocated to the Building’s entire fifth, eighth, and ninth floors, along with a portion of the tenth floor. The lease term for the 30 W. Mifflin St. location will be twenty-four (24) months, with three (3) additional renewal options of two (2) months each to allow time for delays.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with Madison Real Estate Properties, a Wisconsin general partnership and Madison East Shopping Center Partners, LLP, a Wisconsin limited liability company or assigns (collectively, the “Lessor”), subject to the following terms and conditions:
1. Leased Premises: ...
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