Town Council Regular Session


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  Item # C.       
Meeting Date: 12/17/2014  
Requested by: Stacey Lemos Submitted By: Stacey Lemos, Finance
Department: Finance  

Information
SUBJECT:
Resolution No. (R)14-65, approving a Facility Lease Agreement between the Town of Oro Valley and the Friends of the Oro Valley Public Library
RECOMMENDATION:
The Friends of the Oro Valley Public Library Board approved this lease agreement at their November 13, 2014, board meeting, and staff recommends approval.
EXECUTIVE SUMMARY:
Staff requests Town Council approval of the Facility Lease Agreement between the Town and the Friends of the Oro Valley Public Library for 408 square feet of space located within the recently placed triple-wide modular building on the Town Hall Campus just south of the Library. Town Council authorized the purchase of this modular building at their July 2, 2014, regular Council meeting to address space needs requested by the Friends of the Oro Valley Public Library, several Town departments (Development and Infrastructure Services and Water Utility) and space needed to operate the Town's on-site health clinic. The Friends will use this leased space primarily for book storage in support of their fundraising efforts for the Oro Valley Public Library.
BACKGROUND OR DETAILED INFORMATION:
Earlier this year, the Friends of the Oro Valley Public Library approached Town staff requesting additional book storage space, preferably located in close proximity to the Library. Staff considered this request in conjunction with other Town space needs in the Development and Infrastructure Services (DIS) and Water Utility departments, as well as the need for space to operate the on-site health clinic that is expected to open in early January 2015. As a result, the Town Council authorized the purchase of a refurbished triple-wide modular building to address these needs at the July 2, 2014, regular Town Council meeting. This modular building is located on the Town Hall campus just south of the Oro Valley Library and north of the Development and Infrastructure Services Building.

The proposed lease agreement has been negotiated between the Town and the Friends to lease 408 square feet of space to the Friends. The initial term of this lease shall commence on January 5, 2015, and shall be for a period of six (6) years with the option to renew for three (3) additional terms of five (5) years each for a total of 21 years.

The lease cost for the initial 6-year term is $25,200 payable in annual installments of $4,200 and increases to $4,500, $4,700 and $5,000 annually in renewal periods 1, 2 and 3 respectively.

This is a mutually beneficial lease that will allow the Friends to have convenient book storage space in close proximity to the Library, and the Town receives a competitive lease rate that will help offset a portion of the modular building costs over time.
FISCAL IMPACT:
The Friends will pay annual lease payments to the Town of $4,200 for the first six years of the lease term totaling $25,200. These annual lease payments increase to $4,500, $4,700 and $5,000 annually in renewal periods 1,2 and 3 respectively.
SUGGESTED MOTION:
I MOVE to approve Resolution No. (R)14-65, approving a Facility Lease Agreement between the Town of Oro Valley and the Friends of the Oro Valley Public Library.

or

I MOVE...



Attachments
(R)14-65 Friends of OV Library Lease Agreement
Lease Agreement


    

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