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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. R-k <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 21, 1997 <br /> SUBJECT: Lease Approval; 501 West Franklin Street Suite 106 <br /> DEPARTMENT: PURCHASING AND Public Hearing: Yes: No: <br /> CENTRAL SERVICES Budget Amendment Reqd? Yes No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> PAM JONES, ext. 2650 <br /> Lease <br /> Telephone Number- <br /> Hillsborough 732-8181 <br /> Chapel Hill 967-9251 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> PURPOSE: To consider approving a lease for property owned by the County at 501 <br /> West Franklin Street, Suite 106. <br /> BACKGROUND: In July, 1996 the County purchased property at 501/503 West Franklin <br /> Street. The 503 side of the building is to be used as the Skills Development Center. <br /> The 501 side of the building remained leased to private tenants. <br /> James Lilley Properties, desires to renew their lease for Suite #106. Mr. Lilley operates <br /> a property management business from the leased space. The term of the proposed <br /> lease is for two years at a rate of $655 per month during the first year, with a 3.5% <br /> increase during year two. The proposed lease is attached for your information. <br /> RECOMMENDATION: The Manager recommends that the Board approve a two year <br /> lease with Jim Lilley Properties for the period June 1, 1997 through May 31, 1999 <br /> substantially under the terms and conditions cited in the attached lease; and authorize <br /> the Chair to sign on behalf of the Board, contingent upon Attorney review. <br />