Sponsor: Property Management & County Attorney's Office
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Second Amendment to Lease Agreement with Lowry Building LLC for Office Space
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Recommendation
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1. Approve the second amendment to the lease agreement with Lowry Building LLC, 375 Jackson Street, Suite 700W, Saint Paul, MN, 55101, for office space at the Lowry Building, 345 Wabasha Avenue, Saint Paul, MN, 55102, for the period from September 1, 2023, through January 31, 2024, with all other material terms remaining in effect.
2. Authorize the Chair and Chief Clerk to execute the second amendment to the lease agreement.
3. Authorize the County Manager to execute lease amendments to extend the lease at negotiated rates, with the same general terms and conditions.
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Background and Rationale
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On December 20, 2022, the Ramsey County Board of Commissioners approved the acquisition and purchase agreement for the 360 Wabasha Street property. The purchase and acquisition of the 360 Wabasha Street property will provide the Ramsey County Attorney’s Office with the opportunity to vacate its leased space inside the Lowry Building.
The purchase and acquisition of the 360 Wabasha Street property closed on March 31, 2023. Property Management is renovating the interior of the building to provide an adequate space for the Ramsey County Attorney’s Office to occupy.
The Ramsey County Attorney’s Office’s current lease at the Lowry Building expires August 31, 2023. The renovation of the 360 Wabasha building will not be completed by this date, and the Ramsey County Attorney’s Office will need to remain at the Lowry Building prior beyond the current lease expiration date.
Property Management, with the Ramsey County Attorney’s Office, is requesting a short-term extension of the existing lease for the Lowry Building, for the period of September 1, 2023, through January 31, 2024, so that the renovation of the 360 Wabasha building can be completed, and the Ramsey County Attorney’s Office move can take place.
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County Goals (Check those advanced by Action)
☐ Well-being ☐ Prosperity ☐ Opportunity ☒ Accountability
Racial Equity Impact
The racial equity impact of the lease amendment is unknown.
Community Participation Level and Impact
There is no communication engagement for this lease amendment.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The terms of the lease amendment include a five-month extension at a negotiated rate of $55,821 per month or a total amount of $279,103 for the term. This is a 3% increase. Funding for the lease is provided through the operating budget of the Ramsey County Attorney Office.
Last Previous Action
On December 20, 2022, the Ramsey County Board of Commissioners approved the acquisition of and purchase agreement for Parcel 062822120058 with Ecolab USA, Inc. in accordance with the terms in the Lease Agreement, in the amount of $3,950,000 (Resolution B2022-298).
On August 12, 2012, the Ramsey County Board approved a lease agreement with the Lowry Building LLC for office space (Resolution 2012-234).
Attachments
1. Second Amendment to Lease