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1- <br />O R A N G E C O U N T Y <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: AUGUST 6, 1990 <br />SUBJECT: SENIOR CENTER LEASE WITH ARTS CENTER <br />DEPARTMENT: COUNTY MANAGER <br />ATTACHMENT(S): <br />Action Agenda <br />Item # X-1 <br />PUBLIC HEARING: Yes _X —No <br />INFORMATION CONTACT: <br />MANAGER'S OFFICE - EXTENSION 2300 <br />TELEPHONE NUMBERS: <br />Hillsborough - 732 -8181 <br />Durham - 688 -7331 <br />Mebane - 227 -2031 <br />chapel Hill - 967- 9251/968 -4501 <br />01 <br />PURPOSE: To approve an adjustment to the County's lease <br />arrangement with ArtsCenter for Senior Center space in <br />Carrboro. <br />BACKGROUND: The County has been sub - leasing space from the <br />ArtsCenter in Carrboro for the Senior Center since <br />1987. The lease is now (since July 1, 1990) in the <br />4th year of its 5 year term. The County leases this <br />space at a rate of approximately $6.42 per square <br />foot. This rate is related to both the favorable rate <br />that ArtsCenter has obtained from its landlord, Main <br />Street Partners (less than $2.75 per square foot: <br />base rent of $2.12 per square foot plus a prorated <br />portion of common area maintenance, property taxes and <br />insurance), and to the County's assistance in <br />obtaining $40,000 in grant funds that supported the <br />construction cost of this facility. Nevertheless, if <br />ArtsCenter cease operations, the County's lease <br />arrangement will be effected and the Senior Center may <br />either lose its space or be obliged to pay higher <br />rent. It would be in the best interests of the County <br />and the Senior Center to solidify the arrangement for <br />operating space by agreeing to a short term lease <br />adjustment of $3,000 per year, which annualized will <br />bring the rent more into line with the market rate; <br />and by beginning a year early, long -term lease <br />negotiations (the County's current 5 year lease does <br />not expire until June 30, 1992). <br />As part of the County's efforts and the efforts of <br />