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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 5, 2011 <br />1 <br />Action Agenda <br />Item No. 5 - I <br />SUBJECT: Terradotta.com Lease: 501 W. Franklin Street; Suites 105 and 106 <br />DEPARTMENT: Asset Management Services PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Lease Renewals <br />INFORMATION CONTACT: <br />Pam Jones, Director, (919) 245-2652 <br />PURPOSE: To consider renewing a lease with Terradotta.com for Suites 105 and 106 at 501 <br />West Franklin Street through December 2, 2012. <br />BACKGROUND: A software consulting firm, Terradotta.Com, has leased Suite 105 at 501 <br />W. Frantlin Street since December 2, 2002 and Suite 106 since January 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, <br />which shall be effective December 3, 2011 through December 2, 2012; and the lease rate, <br />which will increase by 3%. <br />FINANCIAL IMPACT: The County would receive a total of $16,656 for rental of the two suites <br />- $10,416 for Suite 105 and $6,240 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, <br />2011, through December 2, 2012 at the following lease rates: <br />o Suite 105-$10,416 per year <br />o Suite 106-$ 6,240 per year <br />• Authorize the Chair to sign lease documents on behalf of the Board. <br />