Title
Lease Extension for 211 Northeast 1st Street (B)
Explanation
In April 1999, the City leased 211 Northeast 1st Street to Chandler, Lang, and Haswell, P.A. for legal offices. The term of Addendum Number 3 for that lease expires on April 29, 2005, and Chandler, Lang, and Haswell, P.A. is interested in renewing the lease for another three-year term. The City no longer uses a portion of the building and Chandler, Lang, and Haswell, P.A. has agreed to lease the additional space, which increased the square footage by 524 square feet. This fourth addendum to the lease provides for an adjustment of the rental rates as a result of the revised floor space. The rent would increase from the current $2,800 per month to $3,140 per month. The term of the lease will run from May 2005 through April 29, 2008, and will be renewed annually.
Fiscal Note
The City will receive $37,680 per year in rent. This is an increase of $4,080 annually.
Recommendation
The City Commission: 1) approve Addendum Number 4 to the lease between Chandler, Lang, and Haswell, P.A. and the City of Gainesville; and 2) authorize the Interim City Manager or designee to execute the lease Addendum Number 4, and any necessary related documents.