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Lease Agreement Amendment with Raymond G. Smith for Office Space at 604 Lancaster Avenue
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INFORMATION CONTACT:
Christopher J. Boyd, Facilities Management, Division Director 704-283-3868
ACTION REQUESTED:
To authorize the County Manager to negotiate and execute an agreement substantially consistent with this agenda item.
BACKGROUND:
Union County has leased office space at 604 Lancaster Avenue for the past three (3) years and six (6) months to support the Department of Juvenile Justice. The current lease extension is set to expire on December 1, 2021 and the Facilities Management Department recommends extending this lease for another eighteen (18) months. The total amount of leased space and other terms will remain the same except the lease rate. The monthly lease rate will increase by approximately three (3) percent to $6,753.05 per month beginning on June 1, 2022. The extension will terminate on May 31, 2023, unless otherwise amended by mutual written consent of both parties.
FINANCIAL IMPACT:
The total cost of the lease extension is $120,374.76 payable in eighteen (18) monthly installment payments. There are sufficient funds in the Rental of Real Property account to cover this expense.