Explanation
Background: This legislation authorizes the Director of Finance and Management to execute a First Amendment to Lease Agreement with AARP Foundation, an existing Tenant located on the first floor at 1393 East Broad Street. Due to modification of the building to create an ADA compliant restroom on the First Floor, the AARP Foundation Premises must be altered thus requiring a change to the leased space as depicted on Exhibit “A” of the Lease. The Amendment will change the description of the office space leased as the Premises and does not result in any change in the annual rent.
Fiscal Impact: None ($0.00).
Title
To authorize the Director of Finance and Management to execute a First Amendment to Lease Agreement with AARP Foundation for office space leased at 1393 East Broad Street. ($0.00).
Body
WHEREAS, the Department of Finance and Management through its Real Estate Management Office, leases office space at the City-owned property at 1393 East Broad Street to the AARP Foundation as Tenant; and
WHEREAS, the City is modifying its building to create an ADA compliant restroom on the First Floor which results in a reconfiguration of the office space currently leased to the AARP Foundation; and
WHEREAS, the alteration of the office space leased to AARP Foundation requires that the Premises, as depicted on Exhibit “A” of the Lease be changed to accurately reflect the new area created after the construction of the ADA restroom, thus necessitating an amendment to accurately depict the Leased Premises; and
WHEREAS, an amendment to the Lease Agreement is necessary to replace Exhibit “A” of the Lease with a new Exhibit “A” to accurately reflect the leased area of the Premises; and
WHEREAS, it is necessary to authorize the Director of the Department of Finance and Management to execute the First Amendment to Lease Agreement with AARP Foundation, for the preservation of the public health, peace, property, safety and welfare; now, therefore:
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