TO: Mayor and City Council
THROUGH: Steve Powers, City Manager
FROM: Kristin Retherford, Urban Development Department Director
SUBJECT:
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Willamette Valley Communication Center lease for property located at 595 Cottage Street NE.
Ward(s): 1
Councilor(s): Kaser
Neighborhood(s): CANDO
Result Area(s): Good Governance; Safe Community
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ISSUE:
Shall the City Council authorize the City Manager to execute the attached lease with Deems, Inc. for property located at 595 Cottage Street NE to house the Willamette Valley Communications Center?
RECOMMENDATION:
recommendation
Authorize the City Manager to execute the attached lease with Deems, Inc. for property located at 595 Cottage Street NE to house the Willamette Valley Communications Center.
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SUMMARY:
Since April 1, 2004, the City (Lessee) has leased the building located at 595 Cottage Street NE to house the Willamette Valley Communications Center (WVCC) from Deems, Inc. (Lessor), Thomas Bowers, President. The current lease is nearing expiration and a new lease is necessary to extend WVCC’s occupancy.
FACTS AND FINDINGS:
Staff and Lessor have come to terms on a new lease (Lease) (Attachment 1). Key terms of the new Lease are shown below.
Square Feet: 10,130
Rate: $16,400/month $1.62/sf/month (NNN)
Term: Four years with three two-year extension options
Commencement Date: July 1, 2020
BACKGROUND:
The WVCC is a coalition of regional governments and agencies is Marion, Polk, and Lincoln Counties. Funding for the Lease payments will come from the WVCC Fund.
Clint Dameron
Real Property Services Manager
Attachments:
1. Proposed Lease