DATE: March 24, 2020
TO: Board of Supervisors
SUBMITTED BY: Raman Bath, County Librarian
Robert W. Bash, Director of Internal Services/Chief Information Officer
SUBJECT: Lease Agreement with Marks Bullard Investors LP - Fig Garden Library
RECOMMENDED ACTION(S):
TITLE
Approve and authorize the Chairman to execute a lease Agreement with Marks Bullard Investors LP, for 17,678 square feet of office space located at 3071 W. Bullard Ave, Suite 20A & B, Fresno, CA 93711, for use by the Library, effective upon the first date of occupancy, not to exceed 15 consecutive years, total not to exceed $3,585,098.
REPORT
There is no Net County Cost associated with the recommended action. Approval of the recommended action will permit the Fig Garden Branch Library to remain at its current location at Marks and Bullard in Fresno and allow the Library to expand into an adjacent space, for an initial five-year term, with an option to renew for five additional two-year periods. Each renewal shall occur automatically unless the County provides a 180-day written notice of non-renewal. The County currently leases space from this property owner under existing Lease L-041 (Agreement # 05-115) on a month-to-month basis. This item pertains to a location in District 2.
ALTERNATIVE ACTION(S):
Your Board could direct the Library to pursue other facility options. However, it would result in a lost opportunity to remain in a desirable location that fulfills the needs of the Library, and serves the residents of northwest Fresno.
FISCAL IMPACT:
There is no Net County Cost associated with the recommended action. The rent is $18,032 per month for 17,678 square feet ($1.02/square foot) for the first year, and will increase by $0.02 per square foot for each additional year, during the 5-year primary term. After the primary term, the rent will increase by $0.02 per square foot, for of each of the five (5), 2-year renewal periods. The maximum rent for the potential 15-year term is $3,585,098....
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