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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET <br /> 1 <br /> PROJECT TITLE: <br /> Lease Agreement Between City of Everett and Initialed by: <br /> Snohomish County Workforce Development Department Head <br /> Council CAA <br /> Council President 07 4 <br /> LOCATION <br /> Everett Station COUNCIL BILL# <br /> Originating Dept Transportation Services <br /> Contact Person Ken Housden/Tom Hingson <br /> Phone Number 257-8806/ 8939 <br /> FOR AGENDA OF February 25, 2004 <br /> Preceding Action: Consent Second Reading <br /> Lease Agreement Between City of X Action Third Reading <br /> Everett and Snohomish County First Reading Public Hearing <br /> Workforce Development Council <br /> (July 16, 2003) <br /> Attachments: Department(s)Approval (Identify): <br /> Replacement Lease Agreement Legal <br /> Council approval of this agenda item authorizes a budget revision in the additional amount requested. <br /> Expenditure Proposed: $0 Account Number(s): <br /> Amount in Current Budget for this Item: $0 <br /> Additional Amount Requested: $0 <br /> SUMMARY STATEMENT: The Snohomish County Workforce Development Council (WDC)oversees the <br /> implementation, local planning and management of the federal Workforce Development Act in Snohomish <br /> County. In July 2003,the WDC entered into an agreement to lease approximately 1,900 sq. ft. on the third <br /> floor of Everett Station. The lease was for five years with an option for one five-year extension. Terms <br /> include initial rent at $23 sq. ft. annually for a first year total of$ 43,700,plus additional rent for utilities and <br /> common area services. The City was responsible for tenant improvement costs. The space to be rented will <br /> not be available for occupancy until March 2004. WDC wishes to withdraw from the current agreement and <br /> replace it with a new lease agreement with the following terms: 1,900 sq. ft. @$28.00 per sq. ft. plus <br /> metered electricity and janitorial services. In addition WDC agrees to reimburse the City up to $42,500 for <br /> tenant improvements. This agreement is expected to generate approximately$60,000 per year for the Everett <br /> Station (Fund 425). <br /> RECOMMENDATION: Council recognize the termination of the current lease agreement established by <br /> Council on July 16, 2003 and authorize the Mayor to sign a new Lease Agreement between The City of <br /> Everett and Snohomish County Workforce Development Council. <br /> RIh/AI/022504/SnICoWorkforceDvlpCouncil - 8 8 <br />