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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: November 16, 2010 <br />Action Agenda <br />Item No. ~{- - ) <br />SUBJECT: Terradotta.com Lease: 501 W. Franklin Street -Suites 105 and 106 <br />DEPARTMENT: Asset Management PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Pam Jones (919) 245-2652 <br />Original Lease <br />Lease Renewal for Suite 105 <br />Lease Renewal for Suite 106 <br />PURPOSE: To consider renewing leases with Terradotta.com for Suites 105 and 106 at 501 <br />West Franklin Street through December 2, 2011. <br />BACKGROUND: A software consulting firm, Terradotta.com, has leased Suite 105 at 501 W. <br />Franklin Street since December 2, 2002 and Suite 106 since January 1, 2010. The tenant <br />wishes to renew the leases for one additional year. <br />All terms and conditions of the original lease will continue with the exception of the term, which <br />shall be effective December 3, 2010 through December 2, 2011; and the lease rate which will <br />increase by 2%. <br />FINANCIAL IMPACT: The County would receive a total of $16,460 for rental of the two suites; <br />$10,400 for Suite 105 and $6,060 for Suite 106. The lease rate is approximately $11.30 per <br />square foot. <br />RECOMMENDATION(S): The Manager recommends that the Board: <br />• Approve the lease renewals as presented for Terradotta.com for the term December 3, 2010 <br />through December 2, 2011 at the following lease rates: <br />o Suite 105-$10,400 per year <br />o Suite 106-$6,060 per year <br />• Authorize the Chair to sign the lease documents as appropriate. <br />