2017/01/04 Council Agenda Packet

EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 5 PROJECT TITLE: Amendment No. 4 to Lease Briefing COUNCIL BILL# Agreement with NMV Proposed Action Originating Dept. Real Property Everett, LLC for space at Consent Contact Person Mike Palacios 2722 Colby Avenue for X Action Phone Number 425-257-8938 Police Evidence Room First Reading FOR AGENDA OF January 4,2017 Second Reading Third Reading Initialed by: Public Hearing Department Head �� Budget Advisory CAA Council President Location Preceding Action Attachments Department(s)Approval 2722 Colby Avenue 12/15/08 Initial 2-year Lease Agreement Transit, Legal, Real Lease Agreement Property 11/24/10 Amend. No. 1 09/19/12 Amend.No.2 11/19/14 Amend.No. 3 Amount Budgeted $124,200/yr Expenditure Required $124,200/yr Account Number(s): 009-500-0023-450 Budget Remaining -0- Additional Required -0- DETAILED SUMMARY STATEMENT: On December 15, 2008,the City of Everett executed a two-year lease with NMV Everett, LLC to lease approximately 11,900 square feet in the basement of the building located at 2722 Colby Avenue for the Police Evidence Room. The initial lease term ended November 30,2012, with an option to extend for an additional two-year period. Subsequent Amendments to the lease agreement have been approved by City Council providing for additional two-year periods with the most recent period commencing on December 1, 2014 and expiring on November 30, 2016. This proposed Amendment No. 4 to the lease agreement extends the lease for an additional two-year period commencing on December 1, 2016 and expiring on November 30, 2018, with no increase to the existing rate. Amendment No. 4 also provides the City with three additional options to extend the lease for additional two- year periods. RECOMMENDATION: Authorize the Mayor to sign Amendment No. 4 to the Lease Agreement with NMV Everett, LLC for space at 2722 Colby Avenue for the Police Evidence Room in the annual amount of$124,200. i