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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 15, 2001 <br />Action Agenda <br />Item No. ~,.a <br />SUBJECT: Lease Renewal; Suite 106; 501 West Franklin Street <br />DEPARTMENT: Purchasing and Central Srvcs. PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Lease Renewal Form <br />INFORMATION CONTACT: <br />Pam Jones 245-2652 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider renewing a lease with Jim Lilley Properties for space at 501 West <br />Franklin Street, Chapel Hill. <br />BACKGROUND: The County has leased a small suite of offices to Jim Lilley Properties at 501 <br />West Franklin Street since the County purchased the building in 1996. The tenant has <br />requested that the lease be renewed for an additional year. It is understood that the County's <br />long-term plans for the facility may involve renting to non-profit organizations whose function <br />may complement the mission of the Skills Development Center. However, no request is <br />pending that would match the space offered in Suite 106. For that reason, we are <br />recommending that the lease with Lilley properties be renewed for the additional year. <br />The rent is being increased by 4% to $796 per month ($9,552 per year). Additionally, this <br />tenant pays taxes-in-lieu in an amount of $67 per month. <br />All other terms of the lease will remain the same. <br />FINANCIAL IMPACT: The County will receive $9,552, which includes parking, common area <br />maintenance and base rent for approximately 552 square feet. <br />RECOMMENDATION: The Manager recommends that the lease with Jim Lilley Properties at <br />501 West Franklin Street, Suite 106 be renewed for a period of one year at the rate specified <br />above; and authorize the Chair to sign on behalf of the Board. <br />