HomeMy WebLinkAboutC.054.93009_0625 (2)A16-21994 606
gives notice to the other part of at least 180 days prior to the
expiration of the lease term. In addition to the real estate,
there is equipment that will be leased as well which is $5766
annually. This price was calculated upon the fair market value
determined by Susan Blumenstein and capitalized that value to
determine the rental price.
This lease will not be used unless or until such time as the
restraining order now in effect is resolved, Mr. Pope said. Mr.
Pope advised that should the board approve this, the motion should
state for use at such time as the restraining is not in effect. He
does not propose to do anything until the County is permitted to do
so, he said.
Chairman Haire inquired if it was the attorney's
recommendation that the board go ahead with the agreement with this
wording? Mr. Pope replied that it was.
Commissioner Madison inquired about the rental price of $12.15
per sq. ft. He asked how staff derived at this figure. Mr. Pope
said that was market rent plus janitorial and security services.
($10.75 rent, .75 janitorial, .65 cubicals - $12.15)
Commissioner Madison inquired about the inclusion of utilities
in the lease. He questioned if this price is as good a deal as it
should be in looking at the first class office space and the
utilities being furnished.
Mr. Pope said the utilities are included because there are no
separate meters. They determined the cost of metering it
separately was pretty expensive.
Mr. Mashburn said Mrs. Blumenstein had done a market survey
and of rent for the area and then added the utilities to the price.
Commissioner Madison inquired what the County was paying for the
rental space on Walnut Street. However, it was not known by anyone
at the meeting. Commissioner Madison said he was in opposition to
the lease anyway. Commissioner Boone inquired how they arrived at
the price for the utilities.
MOTION from Commissioner Madison to table this until the
restraining order has been released and consider it at that time.
VOTING: Ayes - 1 (Madison)
Noes - 3 (Haire, Boone, Hamby)
MOTION from Commissioner Boone to approve the lease subject to
it being executed at such time as the restraining order is
dissolved.
VOTING: Ayes - 3 (Haire, Boone, Hamby)
Noes - 1 (Madison)
REQUEST FOR APPROVAL OF LETTER OF CREDIT - ENGLISH HILL
SUBDIVISION: Mr. Lundy presented this item on the agenda. The
Letter of Credit drawn on Mooresville Savings Bank in the amount of
$33,600 covers the cost of utilities and street improvements for
the subdivision. Mr. Lundy said this is in order and recommends
approval.
MOTION from Commissioner Madison to approve the Letter of
Credit as presented.
VOTING: Ayes - 4; Nays - 0.
REQUEST FOR APPROVAL OF LETTER OF CREDIT - OAR HARBOR
SUBDIVIBIONI Mr. Lundy presented this Letter of Credit to the
Board. This Letter of Credit is in the amount of $167,840 on
behalf of H. Edward and Frances S. Knox. This Letter of Credit is
drawn on the First Citizens Bank of Raleigh. The expiration