Fiscal Note
This amendment will result in one less monthly lease payment of $21,354. Lease costs are currently paid from the capital project for the Fire Administration facility acquisition and build-out and the remodeling of Fire Station 1.
Title
Authorizing the execution of a First Amendment to the Lease for space within the building located 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 (“Lease”) for space within the 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 the redevelopment project located at 305-309 West Johnson Street (the “Ovation”). Subsequent to the adoption of the resolution, the timeline for completion of the build-out of the Fire Administration Condo Unit has been revised which requires a change to the renewal terms provided in the Lease. Currently there are two successive three-month renewal terms (August 1, 2015 through October 31, 2015 and November 1, 2015 through January 31, 2016). Completion of the build out of the Fire Administration Condo Unit is now anticipated to be completed by the end of 2015 and the final month of the second renewal term (January 2016) is no longer required. The Lessor has agreed to an amendment to the Lease that will provide for one option renewal period that will extend the term of the Lease five (5) months from August 1, 2015 through December 31, 2015. The monthly rent provided in the Lease for the two successive renewal periods will remain the same for the amended renewal period. 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...
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