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<br /> CITY OF ARDEN HILLS <br /> e MEMORANDUM <br /> DATE: April 23, 1998 <br /> TO: Mayor and City Council ~ <br /> FROM: Brian Fritsinger, City Administrato / , <br /> SUBJECT: City Hall Lease Agreement <br /> Background <br /> At the March 30,1998 City Council meeting, the City Council directed staff to investigate <br /> options regarding the lease of space for City offices. As a result, City staff has negotiated a lease <br /> with AMB Property, L.P. for space at the Round Lake Business Center. <br /> - Lease Pro\)osal Overview <br /> The lease is consistent with the discussions held at the March 30,1 998 meeting. <br /> A. Costs <br /> The three (3) year gross lease would require the City to pay approximately <br /> . $49,900.80 in annualized lease costs for 4,416 rentable square feet. The City <br /> would be responsible for all utilities, refuse, phones, cleaning, etc..... <br /> B. Lease Option <br /> The City has negotiated an "out" option at the completion of two (2) years. There <br /> is no cost to the City to execute this option. So, in the case that the Sunfish Lake <br /> site is available soon, the City has the ability to escape the lease and move into the <br /> new facility. <br /> C. Leasehold Improvements <br /> The owner will upgrade the space to a maximum cost of $4, 1 00. This is expected <br /> to cover the majority of the improvements necessary to build out the space for <br /> offices and Council Chambers. <br /> Other Items <br /> Staff continues to work on all of the other arrangements related to a move to the Round Lake <br /> site. <br /> Recommendation <br /> Staff recommends approval of the lease with AMB Property, L.P. and further directs the City <br /> Administrator to execute the lease and any other documentation related to such move. <br /> e BF /sls <br /> ------------- <br />