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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 18, 2024 <br /> Action Agenda <br /> Item No. 8-c <br /> SUBJECT: Eno Arts Mill Suite 27 Lease Amendment <br /> DEPARTMENT: County Manager <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Katie Murray, Director, 919-245-2335 <br /> 1. February 7, 2020 Eno River Mill <br /> Space Lease <br /> 2. July 15, 2020 Amendment to Lease <br /> 3. June 1, 2021 Amendment Two to <br /> Lease <br /> 4. Proposed Amendment Three to <br /> Lease <br /> PURPOSE: To approve Amendment Three to the Eno Arts Mill Suite 27 Lease Agreement. <br /> BACKGROUND: Orange County entered into a five-year lease agreement with the Eno River <br /> Mill on February 7, 2020 for Suite 27. The space contains eleven (11) artist studios, and the <br /> current lease expires on March 31, 2025. Amendment Three authorizes a five-year extension of <br /> the lease through March 31, 2030. <br /> FINANCIAL IMPACT: Orange County will pay the Eno River Mill annual rent, increasing 2.5% <br /> per year: <br /> START END ANNUAL MONTHLY <br /> 4/1/2025 3/31/2026 $36,657.63 $3,054.80 <br /> 4/1/2026 3/31/2027 $37,574.07 $3,131.17 <br /> 4/1/2027 3/31/2028 $38,513.42 $3,209.45 <br /> 4/1/2028 3/31/2029 $39,476.26 $3,289.69 <br /> 4/1/2029 3/31/2030 $40,463.16 $3,371.93 <br /> Rental costs of the Eno River Mill are reimbursed on an annual basis by the Orange County Arts <br /> Alliance, the operating partner of the Eno Arts Mill, per the MOU between the two parties. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL 2: HEALTHY COMMUNITY <br /> OBJECTIVE 7. Invest in services and programs that improve the health and quality of life <br /> of the community (e.g., recreation and public open spaces, arts, etc.) <br /> • GOAL 6: DIVERSE AND VIBRANT ECONOMY <br />