Agenda - 06-03-2008-4t - Laserfiche WebLink

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® The owner will allow the construction of the sustainable design elements proposed by the County, such as parking lot improvements and the addition of natural daylighting to the building as part of the upfit initiative. These amounts, however, would be reported separately to the Board at such time plans are developed since they lie entirely outside of the lease and interior upfit costs. • The County shall have the option, but not the obligation to purchase the entire shopping center by February, 2012 at a cost of $15,489,000, minus $15,000 for each month rent has been paid during the lease term. DSS has submitted a list of desired amenities for the space. Upon. approval of the lease by the Board, a contract with an architect will be prepared based on previous Board authorization and programming commenced. It is anticipated departmental programming and architectural analysis of sustainable design options can be accomplished within approximately 120 days, including regulatory approvals. During the same time period, staff will pursue a Construction Manager at Risk (CMAR) contract for consideration by the Board in August 2008. Bringing the CMAR under contract early in the process will allow the upfit and sustainable elements to be accurately priced early in the work so the Board may make well-informed decisions about the magnitude of investment at the site. FINANCIAL IMPACT: Costs for the lease in the amount of $712,356 will be met through General Fund appropriations in the DSS budget. The County'will be reimbursed of 50% of the lease and operating costs, such as utilities. Upfit costs beyond those included in the lease are included in the 2008-2018 Capital Investment Plan, pursuant to earlier Board discussions. Upfit costs are also reimbursed at 50%, based on a 10-year depreciation schedule. RECOMMENDATION(S): The Manager recommends that the Board .direct the County Attorney to collaborate with staff and the owner to prepare a lease for approximately 56,328 square feet of space at the Hillsborough Commons Shopping Center that incorporates the material terms cited above; and authorize the Chair to sign on behalf of the Board.