Title
Retail Tenant Lease - Government District Parking Deck
Action
ACTION:
(A) Adopt the Resolution titled "Mecklenburg County Board of Commissioners Resolution Authorizing Lease of Property to Timothy Pavone, owner of The Law Offices of Attorney Timothy J. Pavone"
(B) Recognize, receive and appropriate $74,215.40 from Unallocated Capital Reserve Fund (9001) for Brokerage and Commission Fees and Tenant Improvements
Staff Contact: Caroline Sawyer, Asset & Facility Management
Presentation: No
BACKGROUND/JUSTIFICATION:
At its meeting on May 5th, 2020, the Board adopted a resolution entitled “Mecklenburg County Board of Commissioners Resolution Declaring Intent to Lease Property to Timothy Pavone owner of The Law Offices of Attorney Timothy J. Pavone.” The Clerk to the Board subsequently published a notice of the Board's intent to approve the lease arrangement consistent with business terms outlined in that resolution and the attached resolution. The final action that needs to be taken by the Board to approve this lease is the adoption of the attached resolution.
Costs associated with leasing the retail space at the Government District Parking Deck total $74,215.40 to include real estate brokerage and commission fees of $14,215.40 and $60,000 for tenant improvements.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
$74,215.40 from Capital Reserve Fund (9001) to cover Brokerage and Commission Fees ($14,215.40) and Tenant Improvements ($60,000.00)