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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting-Date; June 27, 2002 <br /> Action Agenda <br /> Item No. -r <br /> SUBJECT: Authorization for Manager to Lease Property at 501 W. Franklin Street <br /> DEPARTMENT: Purchasing and Central PUBLIC HEARING: (YIN) No <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Pam Jones, (919) 245-2652 <br /> TELEPHONE NUMBERS: <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Durham 688-7331 <br /> Mebane 336-227-2031 <br /> PURPOSE: To consider authorizing the Manager to lease property at 501 W. Franklin Street during <br /> July-August, 2002. <br /> BACKGROUND: The County has received notification from the two remaining private tenants at 501 W. <br /> Franklin Street of their intention to non-renew their lease at the expiration. One tenant, whose lease <br /> expired June 1, 2002, has merged with another firm and has moved to their location. The other tenant, <br /> whose lease expires at June 30, 2002, has made plans to move to larger quarters at another location. <br /> As the Board is aware, Coldwell Banker's lease expired May 31, 2002, and their space will be renovated <br /> and occupied by the Visitors Bureau. <br /> ESM Associates, the County's leasing agentfor the site, is actively marketing the vacant suites. The <br /> terms of the resulting leases would be commensurate with market conditions and also with past <br /> practices of the County for leasing at the site. It has been the historic practice of the County to offer to <br /> rent the properties to non-profit agencies as their needs are made known and as space allows. There <br /> are currently no outstanding requests from agencies, although the Director of Purchasing and Central <br /> Services will continue to pursue requests as they are raised. Should tenants be secured for the site in <br /> July or August, the County should be ready to respond. The purpose of this action, therefore, is to seek <br /> authorization for the County Manager to execute any lease that may be successfully negotiated during <br /> the summer break of the Board. Prior to the Manager executing the lease, each Board member would <br /> receive information and a follow up phone call from the staff to solicit comments about the potential <br /> lease, should such an opportunity occur. <br /> FINANCIAL IMPACT: None. <br /> RECOMMENDATION(S): The Manager recommends that the Board authorize the Manager to execute <br /> any lease for space at 501 West Franklin, pursuant to the conditions cited above that may be <br /> successfully negotiated during the Board's summer break. <br />