Orange County NC Website
Browse       Search
2 <br />Effective June 30 -; 1993 wax will bring a recommendation back to the <br />Board which does the following: <br />1. Defines the term (2 additional years or 4 additional years); <br />term selected shall dictate what escalation factor (4.5% or 3 %) shall <br />be used to determine rent cost for the remainder of the lease; and <br />2. In the event a five -year term is recommended, we will <br />articulate how and by whom the space should be used. <br />RECOMMENDATION: The Manager recommends that a lease renewal for <br />$33,330 annual lease cost be executed through June 30, 1993, at which <br />time a commitment will be made for an additional two or four years; <br />and authorize the Chair to sign on behalf of the Board. <br />