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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: November 17, 2009 <br />Action Agenda <br />Item Na. <br />SUBJECT: Terradofta.com Lease: 501 W. Franklin Street <br />DEPARTMENT: AMPS PUBLIC HEARING: (Y/N} No <br />ATTACHMENT{S}: INFORMATION CONTACT: <br />Pam Jones {919) 245-2652 <br />Original Lease <br />PURPOSE: To consider modifying the [ease arrangement with Terradotta.com at 501 W. <br />Franklin Street for the period December 3, 2009 through December 2, 2010 in the following <br />manner: <br />• Approve a lease renewal for Suite 105, which is currently occupied by the company; and <br />• Consider approving a new lease for Suite 106 with the same terms and conditions as <br />those for Suite 105, contingent upon a business decision by Terradotta.com to lease the <br />additional space. <br />BACFCGROUND: A software consulting firm, Terradotta.Com has leased Suite 105 a# 501 W. <br />Franklin Street since December 2, 2002. The tenant wishes to renew the lease for one <br />additional year. The current lease amount of $825 per month is recommended for the one-year <br />renewal period. The tenant would continue to pay for all utilities, cleaning and interior <br />maintenance of the space. <br />Terradotta.com has expressed interest and is exploring the feasibility of also leasing Suite 106. <br />Suite 106 is adjacent to the current leased space and was previously used as offices for Animal <br />Services Administration prior to its move to the new Animal Services Facility. The suite is <br />approximately 552 square feet and has na identified alternative use for the County at this time. <br />Board approval for leasing Suite 106 is predicated on Terradotta.com's determination that it <br />would be operationally and fiscally prudent to lease the space. Anew lease with terms and <br />conditions commensurate to those contained in the lease far Suite 105 would be prepared for <br />the Chair's signature in that event. <br />The renewal term for Suite 105 would be effective December 3, 2009 through December 2, <br />2010. Should TerraDotta.com deem it operationally appropriate to lease the additional space, <br />the term for Suite 106 would be written to coincide with the expiration of the lease for Suite 105. <br />No other modifications to the current terms and conditions are suggested. <br />FINANCIAL IMPACT: The Count}r would receive $9,900 in rent for Suite 105 and $5,940 for <br />Suite 106, for a total of $15,840. The lease rate is $10.76 per square foot, which is consistent <br />with rental space of this type in Chapel Hill. <br />