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<br /> City Council Agenda Item Cover Sheet <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Project title: Lease Amendment No. 4 with Everett Physical Therapy and Sports Performance Center, PLLC at 2000 Hewitt <br />Avenue <br />Council Bill # interoffice use <br /> Project: Lease Amendment No. 4 with Everett Physical Therapy and Sports Performance Center, PLLC <br />Partner/Supplier: Everett Physical Therapy and Sports Performance Center, PLLC <br /> Location: 2000 Hewitt Avenue, Suite 115 <br />Preceding action: Lease Amendment No. 3 dated February 7, 2019 <br />Fund: 114 <br />Agenda dates requested: <br /> <br /> <br />Briefing <br />Proposed action <br />Consent 7/10/2024 <br />Action <br />Ordinance <br />Public hearing <br /> Yes X No <br /> <br />Budget amendment: <br /> Yes X No <br /> <br />PowerPoint presentation: <br /> Yes X No <br /> <br />Attachments: <br />Lease Amendment <br /> <br />Department(s) involved: <br />Real Property <br />Parks & Facilities <br /> <br />Contact person: <br />Bob Leonard <br /> <br />Phone number: <br />425-257-8335 <br /> <br />Email: <br />bleonard@everettwa.gov <br />Initialed by: <br />RML <br />Department head <br /> <br />Administration <br /> <br />Council President <br />Fiscal summary statement: <br />The proposed Lease Amendment sets monthly rent at $10,212.02 for the lease area and <br />$350 for five parking stalls. All rates are subject to an additional 12.84% leasehold tax to <br />Washington State. Rent shall escalate annually using a formula based on CPI from the <br />preceding year. <br />Project summary statement: <br />Everett Physical Therapy and Sports Performance Center, PLLC leases approximately <br />3,200 square feet from the City of Everett at the Edward D. Hansen Conference Center, <br />Suite 115, 2000 Hewitt Avenue, and five parking stalls off Wall Street just south of the <br />conference center. The initial Lease was executed in 2003 for a term of five years with <br />the option to extend for two additional five-year terms. Thereafter, three amendments <br />have been made to the Lease: Lease Amendment No. 1 dated May 10, 2011, Lease <br />Amendment No. 2 dated October 14, 2013, and Lease Amendment No. 3 dated February <br />7, 2019. The proposed Lease Amendment No. 4 will extend the lease term until March <br />31, 2029. Further, the proposed Amendment also contains a provision regarding shared <br />costs for updated flooring in the space. <br />Recommendation (exact action requested of Council): <br />Authorize the Mayor to execute Lease Amendment No. 4 with Everett Physical Therapy <br />and Sports Performance Center, PLLC at 2000 Hewitt Avenue. <br />