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o Maintain the floor coverings <br />• The Owner will continue to maintain the building in the following manner: <br />o Repair and maintain the exterior of the building, including roof; exterior walls, <br />foundations, gutters and downspouts, sidewalks, drainage and sewer pipes. <br />o Perform repairs and maintenance to HVAC, plumbing and electrical facilities that <br />exceed the County's annual maintenance maximum. <br />o Maintain parking areas. <br />• All other terms of the lease remain the same. <br />This building continues to address a critical need for space in which to locate Court offices in the <br />southern part of the County at an affordable rate. Gonsidering the tax contribution and the base <br />rent, the square foot rate recommended in this lease will range from approximately $13.21 to <br />approximately $14.12 per square foot. Economic Development staff reports average rent of <br />$17.50 - $20.00 per square foot in the Chapel Hill/Carrboro area. <br />FINANCIAL IMPACT: Funds for this expenditure are budgeted in the General Fund Courts- <br />~ease account. The State's sublease for Probation/Parole office space will offset the County's <br />contribution by approximately $19,183 annually. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the lease renewal <br />for the Moody Building through June 30, 2011 under the terms and conditions as stated; and <br />authorize the Chair to sign on behalf of the Board. <br />