HomeMy WebLinkAboutContract 42358-R1 (2)---------
LEASE EXTENSION AND LEASE AMENDMENT FOR A LEASE
BETWEEN THE CITY OF FORT WORTH AND
TOWN CENTER MALL, L.P.
WHEREAS, the City of Fort Worth, a Texas home rule municipal corporation ("Lessee")
entered into a lease agreement ("Lease") (City Secretary Contract No. 42358) effective as of
October 1, 2011 with Town Center Mall, LP. ("Lessor") for 1,244 square feet of leased premises
located at 4200 S. Freeway, Fort Worth, Texas, more particularly described in the Leased
("Leased Premises); and
WHEREAS, the Lease expires on September 30, 2013 ; and
WHEREAS, Lessee desires to extend the lease for three additional one year terms to
begin on October 1, 2013; and
WHEREAS , Lessor has agreed to extend the Lease for the three additional one year
terms with an increase in rent.
NOW THEREFORE, in consideration of the rentals set forth in the Lease, the parties
agree as follows :
I.
Section 3 Term subsection {a) of the Lease is hereby amended and replaced in its
entirety as follows:
"(a) This Lease shall be for a period of 24 months commencing on October 1,
2011 and terminating on September 30,2013 (Term), unless a prior
termination is effected by either Lessor or Lessee under the termination
provisions of this Lease . This Lease can be renewed for three additional one
year terms as follows :
First Renewal Term : October l , 20!3thru-September 30, 2014
Second Renewal Term: October I, 2014 thru September 30, 2015
Third Renewal Tenn: October 1, 2015 thru September 30, 2016"
II.
Section 4 Rent of the Lease is hereby amended and replaced in its entirety as follows:
Lessee shall pay Lessor rent in the amount of $1,244 per month totaling $14,928
annually. The rent for the renewal period shall be as follows :
First Renewal Term: $1,393 .28 per month, totaling $16,719 .36 annually
Second Renewal Term: $1,574.41 per month, totaling $18,892.92 annually
Third Renewal Term: $1,574.41 per month, totaling $18,892.92 annually
All rental payments shall be payable to Lessor at the location of notice set forth in
Section 16 of this Lease. The rental payment shall be made to the Lessor on the
first day of the Term and each month thereafter. Rent for any partial calendar
month shall be prorated on a per diem basis. This rental rate shall remain in effect
~Ett ,rn NOV 2 7 2013
Lease Extension and Amendment to City Secretary Contract No . 423S8
1
OFFICIAL REC RD
CITY SECRETA ~
FT. WORTH,
effect.
in the event of any extension or holdover of this Lease beyond the Term, unless
the parties agree otherwise in writing ."
III .
All other terms and conditions of the Lease remain unchanged and in full force and
Effective as of September 30, 2013 .
LESSOR: LESSEE: City of Fort Worth
Town Center Mall L.P .
Boxer Property Management Corp
Management Company for Landlord
Fernando Costa
Assistant City Manager
Approved as to Form and Legality
M&C L-15624
Lease Extension and Amendment to City Secretary Contract No. 42358
2
OFFICIAL RECOR
CITY SECRETAR
FT. WORTH, TX
'. !,: Official site of the City of Fort Worth, Texas
DATE: 9/24/2013 REFERENCE L-15624
NO.: LOG NAME: 17LAGRANPLAZARENEW
CODE: L TYPE: NON-PUBLIC
CONSENT HEARING: NO
SUBJECT: Authorize Execution of a Lease Amendment and Renewal with Town Center Mall , LP., for
Office Space at LaGran Plaza , 4200 South Freeway for the Planning and Development
Department in the Amount of $16 ,719.36 for Year One and the Amount of $18 ,892 .92 for
Years Two and Three (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the execution of a Lease Amendment and Renewal with Town Center Mall, LP., for
office space at LaGran Plaza 4200 South Freeway for the amount of $16 ,719.36 for Year One and
the amount of $18 ,892 .92 for Years Two and Three ; and
2. Au thorize the Agreement to be effective October 1, 2013 and end ing September 30, 2014 with the
right to renew annually for two additional one year terms.
DISCUSSION:
The Real Property Division of the Housing and Economic Development negotiated a Lease
Amendment
and Renewal with Town Center Mall , LP., for 1,244 square feet of office space located at 4200 South
Freeway at LaGran Plaza for the Planning and Development Department. The inspectors for
Planning and Development, South Division are housed at LaGran Plaza .
The Lease Amendment term is for one year beginning on October 1, 2014 with the right to renew
annually for two additional years . Rent for the first year is in the amount of $16 ,719 .36. Rent for
Years Two and Three is in the amount of $18 ,892.92. The Planning and Development Department
has leased this space since 2006.
Landlord pays all utilities except phone and i nternet service.
This office space is located in COUNCIL DISTRICT 9 .
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that upon the adoption of the Fiscal Year 2014
budget by t he City Council , funds will be available in the Fiscal Year 2014 operating budgets , as
appropriated , of the General Fund.
TO Fund/Account/Centers FROM Fund/Account/Centers
GG01 539120 0063000 $16,719.36
P age 1 of 2
.,Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
Fernando Costa (6122)
Cynthia Garcia (8187)
Cynthia Garcia (8187)
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