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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM A83TRACT <br />Meeting Date: November ], 2001 <br />AMion Age~nd~a2 <br />Item No. D <br />SUBJECT' Lease Sb[us at 501 W. Franklin Street Chapel Hill <br />DEPARTMENT:. Pumhaeing and Centrel PUBLIC HEARING: (Y/N) No <br />Services <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Pam Jones (919) 245-2fi52 <br />Memorentlum TELEPHONE NUMBERS: <br />Hillsborough 772-8181 <br />Chapel Hill 9684501 <br />Durham 6884331 <br />Mebane 376-227-2071 <br />PURPOSE: To consider tenancy of Ue suites at 501 W. Franklin Street that are presently <br />occupied by Coltlwell Banker and the Visitor's Bureau. <br />BACKGROUND: The suite in which Coltlwell 8enker le currently locemd within the referencetl <br />faolity is up for renewal eHeM'rve March 1, 2002. Upon purchase of the building, the BOertl <br />expressetl a tleaire to ukimately eea the building owupied by agencies that had a closer <br />alignment to governmental function. It Is important to recell that the revenue received through <br />the rental of this space figures signigcamty into Me County's tlebt service payment for the <br />building. Several non-profit agencies that hatl previously expressetl somelevel of interest were <br />con+actetl to determine their interest in renting the space. However, the only serous offer tc <br />lease was eaentletl by the Visions Bureau <br />The Visitors Bureau has requested to be wnsidered for tenancy at such time Coltlwell Banker's <br />lean expires. The Vieibrs Bureau Board hsa endorsed the rental oFthe whole space far use <br />by the Bureau antl a Visitor's Center. The BoaN of Commiaaionere approved the incraesetl <br />rent and the renovation costs as pad of the Visitors Bureau 2001-2002 operating butlget. <br />A couple of options regartling the tlispoeition of me apace being varatetl by the Visitors Bureau <br />are being discussed. One potential use of the space being vacatetl is the relocation of [he <br />Human Rights end Relations Department. Discussions are on-going with the Director of that <br />Departmen[tc determine whh greater certainty the advisability of that move.however. The <br />matter will be brought forward for future Boats consideration should the analysis reveal the <br />nwve [o be pendent. The Department would not pay rent. However, the positive revenue <br />stream needed for the 501 property would be maintained In this Instance by not renewing the <br />lease for the builtling in Hillsborough that the Department now osupies. (Sea note on table in <br />Financial Impart section.) <br />