title
Resolution Authorizing a New Lease on the Fourth Floor of the Skyline Center to the Honorable Ted Budd for a Constituent Services Location
body
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Department: |
Economic Development |
Meeting Date: |
7/15/2025 |
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Contact Name: |
Aubrey Parsley |
Public Hearing: |
No |
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Contact Phone: |
910-200-8382 |
Advertising Date/Advertised By: |
N/A |
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Attachments: |
Attachment #1: Resolution |
PURPOSE:
The purpose of this resolution is to authorize the City Manager to enter into a new lease for office space on the fourth (4th) floor of 929 N. Front Street (Skyline Center) to the Honorable Ted Budd, United States Senator (Tenant) as a constituent service location for a term of approximately thirty-seven (37) months, expiring on January 2, 2029.
BACKGROUND:
The proposed lease includes approximately 1,249 square feet of space on the 4th floor of the Skyline Center. City staff has been in discussion with the Tenant to reach a mutually agreeable lease, which has a term of approximately 37 months and expires on January 2, 2029. Rental payments shall equal approximately $48,350 in base rent per year, plus additional rent to capture the amortized costs of constructing the improvements necessary for the Tenant.
Pursuant to federal law, as set forth in 2 U.S.C. §6317, United States Senators are allowed to lease office space, on behalf of the United States Senate, for the Senator’s official use in places designated by the Senator in the State they represent. The Tenant would use the premises as a constituent services location.
budget
BUDGET IMPACT:
Approximately $48,350 in net revenues per year are anticipated in the lease.
recommendation
RECOMMENDATION / ACTION REQUESTED:
Passage of the resolution is recommended.