Fiscal Note
The proposed resolution authorizes the execution of a 36-month triple-net (NNN) lease for the Clerk's Office beginning July 1, 2026. Under the terms of the lease, monthly charges are comprised of $7,197 in base rent, $2,699 in Common Area Maintenance (CAM) costs, and $2,075 for the City's pro-rata share of building utilities, repairs, HVAC maintenance, and cleaning. Base rent is subject to an annual 3% escalator. Total estimated costs for the lease are $438,807 over the 36-month lease term. Estimated annual costs are $143,652 in Year 1, $146,243 in Year 2, and $148,912 in Year 3. The Clerk's Office and Finance will monitor the Clerk's operating budget to ensure funding is available for 2026 lease costs. If needed, an additional appropriation will be made available through the mid-year resolution to provide funds for 2026 lease 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 on the completion of the Lessor’s Work defined in the Letter Intent between the City of Madison and 3517 West Beltline LLC for the property at 3517 W Beltline Hwy for Clerks Office storage. (District 10)
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
WHEREAS, the City of Madison and 3517 West Beltline LLC desire to enter into a lease (the “Lease”) for the premises at 3517 W Beltline Hwy to allow for temporary storage of election equipment and supplies during said remodel project and additional months past the 202...
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