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Item # G.
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| Town Council Regular Session |
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| Information |
| SUBJECT: |
| Resolution No. (R)16-47, authorizing and approving a one (1) year extension, with two additional one (1) year options, to the lease between the Town of Oro Valley and Town West Realty, Inc. |
| RECOMMENDATION: |
| Staff recommends approval. |
| EXECUTIVE SUMMARY: |
| The proposed one (1) year extension, with two additional one (1) year options, to the current lease agreement, pertaining to the Police Department substation located at Mountain View Plaza, will allow the Town of Oro Valley Police Department to extend the duration of the current lease, which will expire December 31, 2016. |
| BACKGROUND OR DETAILED INFORMATION: |
Resolution No. (R)15-70 was approved on December 2, 2015, authorizing an amendment to the existing lease with Mountain View Plaza, LLC. for a one year lease extension expiring December 31, 2016.
With the acquisition of additional property, plans had been made to move the employees and Citizen Volunteer Assistants Program volunteers occupying this leased space at the end of the lease period, December 31, 2016. However, due to unanticipated delays, it has become essential to continue occupancy at this location, thereby necessitating an extension to the current lease. Town West Realty has offered a one (1) year extension to the current lease, while maintaining the monthly lease price of $16 per square foot of rental space, with all other terms and conditions remaining the same as the original lease. Additionally, they have offered two, one (1) year options with the base rent increasing by 3% each option year. |
| FISCAL IMPACT: |
| The approved fiscal year 2016/2017 budget includes the capacity for continuing this lease. |
| SUGGESTED MOTION: |
| I MOVE to (approve or deny) Resolution No. (R)16-47, authorizing and approving an extension to the lease for the Police Department substation located at Mountain View Plaza. |
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