HomeMy WebLinkAboutAgenda - 02-09-2006-5jORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: February 9, 2006
Action Agenda
Item No. ~_._
SUBJECT: Lease Extension for Senior Center at the Galleria
DEPARTMENT: Purchasing
PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
Lease Extension/Renewal
INFORMATION CONTACT:
Pam .!ones, 245-2650
PURPOSE: To consider extending/renewing a lease for space at the Galleria, the current site
of the Chapel Hill Senior Center, through December 31, 2006.
BACKGROUND: The new Robert and Pearl Seymour senior center, being constructed on
County-owned property on Homestead Road, is scheduled for completion in December 2006.
The current senior center is located in leased space at the Galleria on Elliott Road. Although
the target date for opening of the new center was originally contemplated to coincide with the
June 30, 2006 expiration of this lease, efforts to bring the project in closer alignment with
available funding, as well as delay in approvals, have prompted the modification of this
schedule. Owners of the Galleria have agreed to extend the lease at the current site through
December 31, 2006 at the rate of $16,330.40 per month, which represents a five percent (5%)
escalation of the current rate.
FINANCIAL IMPACT: Funds for this lease will be included in the 2006-2007 Manager's
Recommended Budget.
RECOMMENDATION(S): The Manager recommends that the Board approve a lease
extension/renewal for July 1, 2006 through December 31, 2006 at the rate quoted; and
authorize the Chair to sign on behalf of the Board.
AMENDMENT TO LEASE
THIS Amendment to Lease is made effective as of February _, 2006 by and between Galleria of
North Carolina, LLC, a North Cazolina limited Liability company, hereinafter referred to as the
"Landlord" and Orange County, hereinafter referred to as the "Tenant."
WHEREAS, Landlord and Tenant heretofore entered into a certain lease ageement (the "Lease")
dated December 1, 1998 for certain premises located at the Galleria Shopping Center, 400 S, Elliott Road,
Chapel Hill, NC 27514; and
WHEREAS, the parties have ageed to amend certain terms and conditions ofthe Lease as set
forth below,
NOW THEREFORE, in consideration of $10.00 and other good and valuable consideration paid,
the receipt of which is hereby acknowledged, the parties do hereby agee as follows:
1. Section 1.6, Length of Term, is amended to provide that the term ofthe Lease, which was to end
on June 30, 2006, is extended to and unless sooner terminated pursuant to the terms of the Lease
shall end on December 31, 2006 (period from June 30, 2006 through December 31, 2006 is
hereafter referred to as the "Extended Term").
2.. Section 2,1(a) Minimum Rent is modified to provide that the monthly minimum (base) rent during
the Extended Term shall be (a) base rent of $12,553.33 per month (a 5% increase from the base
rent amount for the immediately preceding period), plus(h) Common Area Maintenance ("CAM")
of $.3,777A7 per month, subject to adjustment as set forth in Section 5.3 Common Area Chazges.
3. Except as expressly set forth hereinabove, all remaining terms, conditions, duties, and obligations
under the Lease are ratified and confirmed in all respects, and shall continue in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.,
GALLEF~-a-\-~NC>
Gordon K. Gold, Managing Partner
ORANGE COUNTY
Chair to the Board of County Commissioners
Change Co Amd 1-30-06