City of Madison, Wisconsin | Legislative Information Center
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File #: 41419    Version: 1 Name: 10935 MMB Relocation Lease 126 S Hamilton St
Type: Resolution Status: Passed
File created: 1/13/2016 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 2/2/2016 Final action: 2/2/2016
Enactment date: 2/5/2016 Enactment #: RES-16-00096
Title: Authorizing the execution of a lease at 126 S. Hamilton Street for the temporary relocation of a portion of the City employees currently located in the Madison Municipal Building during the building’s renovations.
Sponsors: Michael E. Verveer
Fiscal Note
Funds for the temporary lease locations will be split between the operating and capital budget. During the life of the lease the operating budget will contribute 36% of the annual lease costs while the capital budget will contribute 64%. Operating costs will be factored into future budgets for the impacted agencies; ongoing capital funding for the MMB Renovation project will include the capital portion of lease costs. Due to the timing of the lease there will be no charges incurred during the 2016 operating budget.
Title
Authorizing the execution of a lease at 126 S. Hamilton Street for the temporary relocation of a portion of the City employees currently located in the Madison Municipal Building during the building’s renovations.
Body
On November 10, 2015, the Common Council approved the capital budget for renovations to the Madison Municipal Building (“MMB”). Renovations will require the temporary relocation of City of Madison employees currently working in the MMB. Space within the building located at 126 S. Hamilton Street (the “Building”) has been identified by staff as suitable for accommodating a portion of the City employees needing relocation. The construction schedule for the MMB renovations is estimated at eighteen (18) to twenty-four (24) months. During construction, a portion of the City employees will be relocated to the entire Building. The lease term at 126 S. Hamilton Street will be twenty-four (24) months, with three (3) additional renewal options of two (2) months each to allow time for delays.

NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with Lar-Dol Entrepreneurs, Inc., a Wisconsin corporation or assigns (the “Lessor”), subject to the following terms and conditions:

1. Leased Premises: The Lessor shall lease to the City the Building, consisting of 20,844 square feet (“s.f.”) in total, which is consists of 15,594 s.f. located on floors one through three (colle...

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