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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 17 <br /> PROJECT TITLE: <br /> Amendment No. 3 to Lease Briefing COUNCIL BILL# <br /> Agreement with NMV Everett Proposed Action Originating Dept. Facilities/Real Prop. <br /> LLC for space at 2722 Colby Consent Contact Person Mike Palacios <br /> Ave for Police Evidence 11/19/14 Action Phone Number (425)257-8938 <br /> Room First Reading . FOR AGENDA OF 11/19/14 <br /> Second Reading <br /> Third Reading Initialed by: -j <br /> Public Hearing Department Head , <br /> Budget Advisory CAA 1� <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> 2722 Colby Ave 12/15/08 Lease Amendment No. 3 Legal,Facilities/Property <br /> Agreement Approval; Management <br /> 11/24/10 Amend.No.1 <br /> 09/19/12 Amend.No.2 <br /> Amount Budgeted $124,200/yr <br /> Expenditure Required $124,200/yr Account Number(s): 009-500-0023-450 <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: <br /> On December 15, 2008,the City of Everett executed a 2-year lease with NMV Everett LLC to lease <br /> approximately 11,900 square feet in the basement of the building located at 2722 Colby Ave for the Police <br /> Evidence Room. The initial lease term ended November 30, 2012. <br /> On November 24, 2010,Amendment No. 1 was approved by City Council exercising a 2-year option period <br /> commencing on December 1,2010 and expiring on November 30, 2012 with a renegotiated zero rent <br /> increase to the existing rate. <br /> On September 19, 2012,Amendment No. 2 was approved by City Council providing for three 2-year options <br /> to extend the lease with the rent rate to be negotiated for each renewal term with a zero rent increase during <br /> the first 2-year renewal period of the Amendment No. 2 commencing on December 1, 2012, and terminating <br /> on November 30, 2014. <br /> This proposed Amendment No. 3 to the lease exercises a 2-year option period commencing on December 1, <br /> 2014 and expiring on November 30, 2016 with a renegotiated zero rent increase to the existing rate. <br /> RECOMMENDATION: <br /> Authorize the Mayor to execute Amendment No. 3 to Lease Agreement with NMV Everett LLC for space at <br /> 2722 Colby Ave for Police Evidence Room. <br /> 111 <br />