Explanation
BACKGROUND: This ordinance authorizes the appropriation of $1,827,878.00 from the Special Income Tax Fund for the Finance and Management Department, Facilities Management Division, in order to allow the Office of Real Estate Management to enter into lease agreements.
This ordinance also authorizes the Finance and Management Director to renew six separate lease agreements with five separate lessors. Three of the leases are for the Police Division, two are for the Fire Division, and one is for the Development Department, to be occupied by a Neighborhood Pride Center.
The leases authorized by this ordinance, with 2007 costs, are as follows:
SEE ATTACHMENT
This ordinance also authorizes an expenditure of $407,358.00, to be paid to the Department of Public Utilities, Sewerage and Drainage Division. This payment stems from Police Division and Fire Division office and warehouse space at a Sewerage and Drainage Division location, 1250 Fairwood Avenue.
Emergency action is requested to provide funding to coincide with the beginning date for the lease renewals.
Fiscal Impact: This ordinance appropriates $1,827,878.00 from the Special Income Tax Fund for leases for fiscal year 2007. This ordinance authorizes the expenditure of $1,199,109.71 for six leases and one Memorandum of Understanding from the Special Income Tax (Fund 430) in 2007. In 2006, the Facilities Management Division spent $1,146,000.00 from the Special Income Tax Fund to fund these costs. In 2005, the Facilities Management Division spent $1,137,315.75 from the Special Income Tax Fund to fund these costs. The 3042 Trust Contract Compliance Number 31-6334544, expiration date 02/01/2009. Jaeger Commerce Park Ltd. Partnership Contract Compliance Number 31-1244129, expiration date 02/01/2009. Tom Zanetos Contract Compliance Number 27-8143514, expiration date 02/01/2009. Viking Properties Contract Compliance Number 31-1358552, expiration date 02/01/2009. King Lincoln...
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