City of Madison, Wisconsin | Legislative Information Center
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File #: 62146    Version: 1 Name: 8071 1st Amendment to EAP Lease at VOP
Type: Resolution Status: Passed
File created: 9/9/2020 In control: Economic Development Division
On agenda: 10/6/2020 Final action: 10/6/2020
Enactment date: 10/13/2020 Enactment #: RES-20-00704
Title: Authorizing the Mayor and the City Clerk to execute a First Amendment to Lease with the Community Development Authority of the City of Madison for the property located at The Village on Park used by the City’s Employee Assistance Program group. (14th AD)
Sponsors: Shiva Bidar, Samba Baldeh
Fiscal Note
The total rent for the Extended Lease Term is approximately $33,981. The annual rent increases by approximately $200 from 2020 to 2021. Annual rent payments are included in the Employee Assistance Program’s operating budget. No additional City appropriation is required with the adoption of the proposed resolution.
Title
Authorizing the Mayor and the City Clerk to execute a First Amendment to Lease with the Community Development Authority of the City of Madison for the property located at The Village on Park used by the City’s Employee Assistance Program group. (14th AD)
Body
WHEREAS, the Community Development Authority of the City of Madison (the “CDA”) is the owner of The Village on Park, located at 2300 South Park Street (the “Village on Park”); and

WHEREAS, the CDA and the City of Madison (“Lessee”) entered into and approved a lease dated February 5, 2016 for office space located at Suite 111 at The Village on Park (the “Lease”). The CDA Board approved the Lease on November 19, 2015 via CDA Resolution No. 4155, Legistar File ID No. 40654. The City of Madison authorized the Lease by Resolution Enactment No. 16-00051, File No. 40969, adopted by the Common Council of the City of Madison on January 19, 2016; and

WHEREAS, the Lease expires on February 28, 2021 and has no extension or renewal options. The CDA and the City of Madison have negotiated the below renewal and extension terms and conditions to the Lease.

NOW THEREFORE BE IT RESOLVED that the Mayor and City Clerk are hereby authorized to execute on behalf of the City (“Lessee”) a first lease amendment (the “First Amendment”) with the Community Development Authority of the City of Madison (“CDA”) as the lessor at the Village on Park on the following terms and conditions:

1. Amending Paragraph 2, Lease Term, adding a new provision 2.a to state:

2.a. The term of the Lease is by five (5) new Lease Years, and the new expiration date is February 28, 2026 (the “Extended Lease Term”).

2. Am...

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