Agenda - 09-15-2015 - 6g - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: September 15, 2015 Action Agenda Item No. 6-g SUBJECT: Lease Modification — Department of Social Services Expansion into Former Dollar Tree Space within Hillsborough Commons DEPARTMENT: Department of Social Services PUBLIC HEARING: (Y/N) No Asset Management Services ATTACHMENT(S): INFORMATION CONTACT: 1) December 9, 2014 Agenda Abstract Nancy Coston, 919-245-2800 2) Lease Modification Sharron Hinton, 919-245-2800 3) Option to Purchase Jeff Thompson, 919-245-2658 PURPOSE: To consider modifying the Hillsborough Commons Lease servicing the Orange County Department of Social Services to: 1) extend the terms of the initial Lease Agreement to the expanded 10,116 square feet (the former Dollar Tree space); 2) re-instate the Option to Purchase all or a portion of the entire Hillsborough Commons Shopping Center property; and 3) authorize the Chair to sign the appropriate documents upon final review of the County Attorney. BACKGROUND: On December 9, 2014, the Board of Orange County Commissioners approved a one year lease for the 10,116 square foot former Dollar Tree space for necessary and important programs in support of employment, training, and teen activities (see Attachment 1, "December 9, 2014 Agenda Abstract") The one year lease agreement allowed immediate use of the space and anticipated this longer term lease modification and the re-instatement of the purchase option contemplated in the original lease that expired in 2012, allowing the County to potentially negotiate a mutually agreeable purchase of all or a portion of the Shopping Center. The proposed Lease Modification ("Attachment 2") extends all of the original Lease terms to the additional space. The combined space contemplated within the Lease Modification is approximately 66,444 square feet. The proposed Option to Purchase section modification of the original Lease is located as Attachment 3.