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..:EVRETT.CiTY GO.ENCIL ACrENDA ITN:`001T.SIEET. <br />PROJECT TITLE: <br />Lease Agreement with the <br />State of Washington <br />Employment Security <br />Department for space at <br />Everett Station <br />Location <br />Everett Station located at <br />3201 Smith Ave <br />Amount Budgeted <br />Expenditure Required <br />Budget Remaining <br />Additional Required <br />Consent <br />Action <br />First Reading <br />Second Reading <br />Third Reading <br />Public Hearing <br />X Proposed Action <br />Preceding Action <br />6/26/02 City Council <br />Approval of Lease <br />Agreement for ESD at <br />Everett Station <br />2/11/09 City Council <br />Approval of Lease <br />Renewal for ESD at <br />Everett Station <br />COUNCIL BILL 4 <br />Originating Department <br />Contact Person <br />Phone Number <br />FOR AGENDA OF <br />Initialed by: <br />Department Head <br />CAA <br />Council President <br />Attachments <br />Lease Agreement <br />Account Number(s): <br />Facilities/Prop-Mgt. <br />Michael Palacios <br />Tom Hingson <br />(425) 257-8938 <br />(425) 257-8939 <br />May 26, 2010 <br />Departments) Approval <br />Legal <br />Transit <br />Real Property <br />DETAILED SUMMARY STATEMENT: <br />The City of Everett and the Washington State Employment Security Department (ESD) entered into a 5 -year lease <br />agreement for space at Everett Station which began on July 1, 2002, with a termination date of June 30, 2007. ESD <br />continued to lease at Everett Station on a month to month basis until the lease was renewed in February 2009. <br />The February 2009 lease agreement was for an initial 3 -year term for 11,943 square feet (1,784 less space than the <br />2002 lease agreement) for space on the 1St and 4th floors at Everett Station with a termination date of December 31, <br />2011. <br />ESD has recently moved their operations from the 1St floor to the 3rd floor and continues to occupy space on the 4 <br />floor at Everett Station totaling 11,809 square feet. A new 5 -year lease agreement is proposed for the newly occupied <br />space with a commencement date of May 1, 2010, and a termination date of April 30, 2015. The proposed rate for the <br />first 2 years of the lease term is $26,816.27 per month. The rate will increase annually by 3 percent each year <br />thereafter for the remainder of the term. <br />RECOMMENDATION (Exact action requested of Council): <br />Authorize the Mayor to sign new Lease Agreement with the State of Washington Employment Security <br />Department for space at Everett Station. <br />47 <br />