To: Board of Supervisors
From: Public Works
Agenda Section: Consent
SUBJECT:
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Ratify Approval for Lease at 555 H Street, Eureka, Suites B, H & F
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Ratify and approve county's option to continue the lease with PWM, Inc. and Fred Lundblade on a month to month tenancy during the holdover period under all the terms and conditions of the lease; and
2. Authorize the increase in lease payment amounts during the holdover period pursuant to the terms of the lease.
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SOURCE OF FUNDING:
General Fund (1100)
DISCUSSION:
On June 24, 2008, the county entered into a lease agreement with PWM, Inc. and Fred Lundblade ("Lessor") for two thousand seven hundred ninety (2,790) square feet of office space at 555 H Street, Eureka, Suites B and H, and three hundred seventy-two (372) square feet of office space at 555 H Street, Eureka, Suite F for a period beginning on November 1, 2008 through October 31, 2013, with annual rent increases of 3 percent throughout the duration of the lease and its options to extend (Attachment No. 1 - Lease). The monthly rent amount was Four Thousand Eight Hundred Six Dollars ($4,806) or One Dollar and Fifty-Two Cents ($1.52) per square foot.
On July 16, 2013, the county exercised its First Option to extend the lease for a period beginning on November 1, 2013, through October 31, 2015 (Attachment No. 2 - Lease Option No. 1). The monthly rent amount was Five Thousand Five Hundred Seventy-One Dollars and Forty-Seven Cents ($5,571.47) or One Dollar and Seventy-Six Cents ($1.76) per square foot.
On September 8, 2015, the county exercised its Second Option to extend the lease for a period beginning on November 1, 2015, through October 31, 2017 (Attachment No. 3 - Lease Option No. 2). The monthly rent amount was Five Thousand Nine Hundred Ten Dollars and Seventy-Eight Cents ($5,910.78) or One Dollar and Eighty-Seven Cents ($1.87) per square foot.
On Octobe...
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