Fiscal Note
The lease requires the City to pay a monthly rent of $1,608 plus any cost associated with telephone and tele-data services. Funding for the lease is available in Metro's 2016 budget.
Title
Authorizing the execution of a lease between the City and Washington Gilman, L.P. to provide office space for Metro Transit.
Body
WHEREAS, Washington Gilman, L.P., successor in interest to Yahara Square Associates, L.L.P., is the current owner of the building located at 1245 East Washington Avenue (the “Building”); and
WHEREAS, Metro Transit (“Metro”) requires two (2) office spaces for its in-house advertising program and its paratransit program and there is currently no space available within the 9,600 square foot administrative office space that Metro leases in the Building; and
WHEREAS, the City, on behalf of Metro, currently subleases additional office space for the programs within the Building from University Research Park, Inc., and said sublease will expire on January 31, 2016; and
WHEREAS, the City desires to enter into a new lease with the Lessor for two (2) office spaces located within the Building, more commonly known as Suites 212 and Suite 214; and
WHEREAS, the City and the Lessor have negotiated terms and conditions for a new lease, as set forth below.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with Washington Gilman, L.P. (“Lessor”), successor in interest to Yahara Square Associates, L.L.P., for office space within a building located at 1245 East Washington Avenue (the “Building”) to house the Metro Transit (“Metro”) in-house advertising program and paratransit program, subject to the following terms and conditions:
1. Leased Premises. The “Leased Premises” shall consist of two 603 square foot suites, totaling 1,206 square feet, located in the east half of the second floor of the Building, see the floor plan in Exhibit A.
2. Term. The Lease shall be for a term of eleve...
Click here for full text