Title
Charlotte-Mecklenburg 311 Lease
Action
Action:
Approve an amendment to the lease between the City of Charlotte and Cambridge Acquisition, LLC for Charlotte-Mecklenburg 311 at 10101 Claude Freeman Drive.
Body
Staff Resource(s):
Pamela Wideman, Housing and Neighborhood Services
Raquishela Stewart, Housing and Neighborhood Services
Phil Reiger, General Services
Tony Korolos, General Services
Explanation
§ CharMeck 311 consists of employees who serve as the first point of contact for Charlotte-Mecklenburg residents for multiple issues related to both city and county services including property tax bills, utility payments, and solid waste services. CharMeck 311 also supports city and county departments.
§ CharMeck 311 has leased 28,433-square feet of space at 10101 Claude Freeman Drive in Council District 4 since March 1, 2005.
§ On August 27, 2012, City Council approved an amendment to the original agreement, which extended the lease term through December 31, 2020, with no lease renewal options.
§ The proposed lease agreement includes:
- A 10-year term with an early termination option after five years,
- A base rent of $22.50 per square foot, or $53,311.88 per month, with three percent annual increases.
- Rent concession includes:
§ A tenant improvement allowance of $15 per square foot, or $426,495, that will be used for renovation work and any balance can convert to free rent.
§ Six months of free rent, or $319,871.25, will be applied after lease execution.
§ Parking free of charge.
§ This transaction is consistent with the City-Owned Real Estate and Facilities Policy, adopted by City Council in June 2017.
Fiscal Note
Funding: Housing and Neighborhood Services Operating Budget
Attachments
Attachment(s)
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