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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 20, 2012 <br /> Action Agenda <br /> Item No. 5-k <br /> SUBJECT: Terradotta, LLC Lease Renewal —501 W. Franklin Street; Suites 105 and 106 <br /> DEPARTMENT: County Attorney, PUBLIC HEARING: (Y/N) No <br /> Asset Management Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Lease Renewals John Roberts, 919-245-2318 <br /> Jeff Thompson, 919-245-2658 <br /> PURPOSE: To consider renewing a lease with Terradotta, LLC for Suites 105 and 106 at 501 <br /> West Franklin Street through December 2, 2013. <br /> BACKGROUND: Terradotta, LLC, a software consulting firm, has leased Suite 105 at 501 W. <br /> Franklin Street since December 2, 2002 and Suite 106 since January, 2010. The tenant wishes <br /> 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 /> would be effective December 3, 2012 through December 2, 2013, and the lease rate, which <br /> would increase by 3%. <br /> FINANCIAL IMPACT: The County would receive a total of$17,160 for rental of the two suites— <br /> $10,728 for Suite 105 and $6,432 for Suite 106. The lease rate is approximately $11.65 per <br /> square foot. <br /> RECOMMENDATION(S): The Manager recommends that the Board: <br /> • Approve the lease renewals as presented for Terradotta, LLC for the term December <br /> 3, 2012 through December 2, 2013 at the following lease rates: <br /> • Suite 105—$10,728 per year <br /> • Suite 106—$ 6,432 per year; and <br /> • Authorize the Chair to sign lease renewal documents on behalf of the Board. <br />