Fiscal Note
This lease for a warehouse facility requires the City to pay an annual rent of $4.00 per square foot, plus all utility costs and maintenance expenses, real estate taxes, and fire and extended coverage insurance for an estimated annual cost of $85,000. Base annual rent is subject to a 3% increase every year. The Police Department has funds available for evidentiary vehicle storage as part of their towing services budget. The Police Department anticipates an annual savings of $55,000 from this lease agreement. These funds will be applied toward a more efficient means of disposing of vehicles, which will save significant staff time now devoted to vehicle disposition. Future acquisition of the leased property under the option to purchase will require specific Common Council approval at a later date.
Title
SUBSTITUTE - Authorizing the execution of a lease and an option to purchase a warehouse building located at 2434 Vondron Road for the storage of evidentiary vehicles associated with Madison Police Department operations. 16th Ald. Dist.
Body
Whereas, the Madison Police Department (MPD) is considering ways of reducing costs for the storage of evidentiary vehicles; and
Whereas, evidentiary vehicles are currently being stored in privately operated facilities; and
Whereas, it has been determined that leasing warehouse space by MPD will be less expensive than continuing paying fees for storing such vehicles in privately operated facilities; and
Whereas, the leasing of warehouse space by MPD will also provide for the storage of recovered bicycles and other miscellaneous items; and
Whereas, a warehouse facility at 2434 Vondron Road meets MPD's requirements for storing vehicles and bicycles and is available for lease with an option to purchase the facility at a later date; and
Whereas, the terms of the lease and potential purchase have been negotiated with the owner; and
Whereas, based on the proposed estimated annual rent and ope...
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