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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No. y,�-D <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 18,1995 <br /> SUBJECT: DRIVER LICENSE BUREAU LEASE MODIFICATION <br /> DEPARTMENT: PURCHASING AND CENTRAL SERVICES PUBLIC HEARING: YES: NO:xx <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> PAM JONES, ext.2650 <br /> Lease amendment Telephone Number- <br /> Hillsborough 732-8181 <br /> Chapel Hill 967-9251 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> PURPOSE: To consider amending the lease for the Driver License Bureau space approved by the <br /> Board on February 6,1995. <br /> BACKGROUND: On February 6,1995 the Board approved a lease for the space leased for the Driver <br /> License Bureau in Carrboro. The lease rate for the expiring lease was $8.00 per square foot. The <br /> renewal lease rate was also quoted for$8.00 per square foot for the first year,with CPI adjustments <br /> each year thereafter. There was miscommunication between the Owner and the leasing agent <br /> regarding the renewal rate. The Owner has requested that we allow a CPI adjustment (2.6%)for the <br /> renewal rate,which would make the rate effective May 1,1995$8.21 per square foot. Each subsequent <br /> year of the three year contract would be adjusted by CPI as well. All other terms and conditions of the <br /> lease would remain the same. <br /> RECOMMENDATION: The Manager recommends that the Board approve the amended lease rate of <br /> $8.21/sq.ft. for the Carrboro Plaza Driver License Bureau beginning May 1, 1995; and authorize the <br /> Chair to sign on behalf of the Board. <br />