Title
Approval of a Resolution of Authorizing a Lease Agreement with Parkmont Hilton, LLC for the Lease of Storage Space at 2621 Parkmont Lane SW
Recommended Action
Committee Recommendation:
Not referred to a committee
City Manager Recommendation:
Move to approve a Resolution authorizing the City Manager to sign a Lease Agreement with Parkmont Hilton, LLC for the Lease of Storage Space at 2621 Parkmont Lane SW.
Report
Issue:
Whether to approve the to approve a Resolution authorizing the City Manager to sign a Lease Agreement with Parkmont Hilton, LLC for the Lease of Storage Space at 2621 Parkmont Lane SW.
Staff Contact:
Rich Allen, Interim Police Chief, Olympia Police Department, 360.753.8147
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
The Olympia Police Department has an operational need to store items which it does not have space for in City Hall or other City owned locations. The Department has leased space located at 2621 Parkmont Lane SW Building B since 2015.
The lease is consistent with terms from prior years, with minor changes effective in the current year. The term of the lease is for 60 months, with two renewal periods thereafter.
Neighborhood/Community Interests (if known):
There are no known community interests related to the lease agreement.
Options:
1. Approve the Resolution and Agreement.
2. Request modifications to the Resolution and Agreement. This will require renegotiation of the terms of the Agreement.
3. Do not approve the Resolution or Agreement as written and provide staff with alternate direction. This will require renegotiation of the terms of the Agreement.
Financial Impact:
The cost of the lease is covered in the budget. Monthly rental fee and increases by year are as follows:
Year 1 (1/1/2022 - 12/31/2022) - $2,388.10
Year 2 (1/1/2023 - 12/31/2023) - $2,459.75
Year 3 (1/1/2024 - 12/31/2024) - $2,500.00
Year 4 (1/1/2025 - 12/31/2025) - $2,500.00
Year 5 (1/1/2026 - 12/31/2026) - $2,500.0...
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