HomeMy WebLinkAboutAgenda - 11-17-2009 - 4fORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: November 17, 2009
Action Agenda
Item Na.
SUBJECT: Terradofta.com Lease: 501 W. Franklin Street
DEPARTMENT: AMPS PUBLIC HEARING: (Y/N} No
ATTACHMENT{S}: INFORMATION CONTACT:
Pam Jones {919) 245-2652
Original Lease
PURPOSE: To consider modifying the [ease arrangement with Terradotta.com at 501 W.
Franklin Street for the period December 3, 2009 through December 2, 2010 in the following
manner:
• Approve a lease renewal for Suite 105, which is currently occupied by the company; and
• Consider approving a new lease for Suite 106 with the same terms and conditions as
those for Suite 105, contingent upon a business decision by Terradotta.com to lease the
additional space.
BACFCGROUND: A software consulting firm, Terradotta.Com has leased Suite 105 a# 501 W.
Franklin Street since December 2, 2002. The tenant wishes to renew the lease for one
additional year. The current lease amount of $825 per month is recommended for the one-year
renewal period. The tenant would continue to pay for all utilities, cleaning and interior
maintenance of the space.
Terradotta.com has expressed interest and is exploring the feasibility of also leasing Suite 106.
Suite 106 is adjacent to the current leased space and was previously used as offices for Animal
Services Administration prior to its move to the new Animal Services Facility. The suite is
approximately 552 square feet and has na identified alternative use for the County at this time.
Board approval for leasing Suite 106 is predicated on Terradotta.com's determination that it
would be operationally and fiscally prudent to lease the space. Anew lease with terms and
conditions commensurate to those contained in the lease far Suite 105 would be prepared for
the Chair's signature in that event.
The renewal term for Suite 105 would be effective December 3, 2009 through December 2,
2010. Should TerraDotta.com deem it operationally appropriate to lease the additional space,
the term for Suite 106 would be written to coincide with the expiration of the lease for Suite 105.
No other modifications to the current terms and conditions are suggested.
FINANCIAL IMPACT: The Count}r would receive $9,900 in rent for Suite 105 and $5,940 for
Suite 106, for a total of $15,840. The lease rate is $10.76 per square foot, which is consistent
with rental space of this type in Chapel Hill.