Agenda - 05-18-2004-9e - Laserfiche WebLink

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z A lease with terms as cited below has been negotiated for appropriate space at 503 Cornerstone Court, Hillsborough (close to the intersection of Highways 86 and 70A): • Term of lease: 3-years, beginning July 1, 2004 and ending June 30, 2007. The longer- term solution will involve constructing a building for this purpose on property already owned by the County; however, the specific location has yet to be determined. In the event such a structure is not available by June 30, 2007, the lease also includes one three-year renewal, upon mutual agreement of both parties. • The building is currently under construction. Should it become available prior to July 1, 2004, the Landlord has agreed to allow early move in at the rate of $80 per day. • Lease amount: $32,640 annually for the three-year lease term. • County pays utilities and provides janitorial services. • Landlord assumes all other maintenance responsibilities for the leased premises. FINANCIAL IMPACT: Funds to support the lease beginning July 1, 2004 have been included in the Recreation and Parks Department 2004-2005 budget request. Funds to support early move-in ($80/day), if any, are available in the Department's current year operation budget. RECOMMENDATION(S): The Manager recommends that the Board approve athree-year lease with JGBH Properties, LLG for approximately 4,000 square feet of interior space and 3,500 square feet of exterior storage area at 503 Cornerstone Court, Hillsborough, per the terms and conditions herein cited; and authorize the Chair to sign on behalf of the Board.