Fiscal Note
This resolution modifies the dates of a previously approved 24-month lease due to the delay in construction of the redevelopment project which will include Fire Administration space. The City is required to pay a monthly rent of $20,525 plus any cost associated with data and phone services. Annual lease costs are $102,625 in 2013, $246,300 in 2014, and $143,675 in 2015. The 2013 Capital Budget includes funding for 12 months of the lease; the remaining 12 month costs will need to be included in future years' capital budgets.
Title
Authorizing the execution of a lease at 30 West Mifflin Street for the temporary relocation of administrative space for the City of Madison’s Fire Department.
Body
On November 27, 2012, the Common Council adopted Resolution No. 28316 which authorized the execution of a lease for space within a building located at 30 West Mifflin Street for the temporary relocation of the City of Madison’s Fire Department administration offices during the construction and build out of a new Madison Fire Administration Condo Unit in a redevelopment project located at 305-309 West Johnson Street. Subsequent to the adoption of the resolution the timeline for the construction of the redevelopment project was revised which requires a change to the lease term of January 1, 2013 to August 1, 2013. Adoption of this resolution will change the lease term to August 1, 2013 to July 31, 2015. All other terms and condition of the lease approved in the previous resolution will remain the same.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with Madison Real Estate Properties and Madison East Shopping Center Partners or assigns (“Owner”) for space within a building located at 30 West Mifflin Street for the temporary relocation of Madison Fire Department Administration, subject to the following terms and conditions:
1. The initial term of the lease (the “Lease Term”) shall be twenty four...
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