Agenda - 11-07-2001-8q - Laserfiche WebLink

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Another obvious option would be to re-lease the space on the open market. We have been advised that the market would certainly support the leasing of the Vieilors Bureau space at a rental msl of $14$16 per square toot The fnancialimpact information presented below uses the conservative estimate. The attached memorandum provides additional detail regaNing the options for leasing the large suite tithe Visitors Bureau and re-leasing the suRe presently omupletl by the Vlsltors Bureau. FINANCIAL IMPACT: ENlmafeE SUXeb F1. Per mRFOOt COtl Eetimatetl Annual ReM rent: u Ewell BeOam 38 $W.31 $5C9W.13 Islkls Bureau 1 $a 3e $fa,0]600 Cunenl Mnual revalue $69,]Tl.t3 ion l: Renew COlEwell BanBerbr9 ears. P asumes 9%annual mLA obwall Banger 3 414 ]e 856,31B.3c Ieikfs BUmau I $9.36 $Id,WB.00 nnuelRrvanueo aartl g]oA16.3a tin s:vbnore eumutahee colawell isiM'e BUreeu 381 $1].50 $6]]6].56 Rerent WiM's Bureaus tte I`A $W.W $31,OW.06 Mlnlmum MnualRm'enue0 tin 11 $66,18].50 Oiflarenea behxam CUnenl Mnual Ravmue antl0 Cn2 316.3] Maximum CiReranro baMaanO iEn1b WnP $1630.BA In Nananl HPAmovatlbNelNre Bureaus aw Ne mlhom n6 s. cneron sveelwnuN be e6mineba eleminimum aevin aor sea 61a66 RECOMMENDATION(S): The Manager recommends that [he BOaM take the following action'. 1. Au[horlie the Director of Purohasing and Cen[rel $ervlcea to provide written notice to Coldwell Banker of the County's intent to non-renew the lease at February 28, 2002 and oRer a lease extension through May 31,2002 b allow suf8cienltima for them to relocate; 2. Approve the request ofthe Vleltora BUreeu tc occupy the apace cuoenlly leeaed by Cgltlvrell Bankeq and request that the Director of Purchasing and Central Services prepare a lease for future Commissioner consideration reflecting the temis and conditions cited in the attached mama