title
Resolution Authorizing a New Lease for the Seventh Floor of Skyline Center
body
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Department: |
Economic Development |
Meeting Date: |
6/3/2025 |
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Contact Name: |
Aubrey Parsley |
Public Hearing: |
No |
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Contact Phone: |
(910) 200-8382 |
Advertising Date/Advertised By: |
5/2/2025 |
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Attachments: |
Resolution Authorizing Lease Seventh Floor 929 N Front St |
PURPOSE:
The purpose of this resolution is to authorize the City Manager to enter a new lease for a portion of the seventh floor of 929 N. Front Street (Skyline Center).
BACKGROUND:
Attached for your consideration is a resolution authorizing the City Manager to execute a new lease agreement regarding the seventh (7th) floor of 929 N. Front Street (Skyline Center). The premises included in the lease contemplates 810 square feet of space. Studsvik Scandpower, Inc. (“Tenant”) is the proposed lessee.
City staff has been in discussion with the Tenant to reach a mutually agreeable lease, which consists of an initial term of five (5) years, along with one option to renew for an additional three (3) years. The annual rent will total $32,076.00 and will increase annually thereafter.
budget
BUDGET IMPACT:
Approximately $32,000 in annual revenue.
recommendation
RECOMMENDATION / ACTION REQUESTED:
Passage of this resolution is recommended.