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| June 25, 2020 City Council Meeting | |
| Title 22. Approval of a Second Amendment to the Lease for 602 East Lathrop Street (PIN 10536 01003A) | |
| Strategic Priority N/A | |
| Description Staff have negotiated a rent relief provision with the landlord at 602 E. Lathrop Avenue (Great Dane), which is currently being used by the Savannah Police Department as the Northwest Precinct, Traffic Unit, and Police Records Department. The landlord has agreed to work with the City and grant a 25% deferral of the Base Rent due from July 1, 2020 to December 31, 2020 in the amount of $45,355.50. Commencing January 1, 2021, the City will resume regular contract rent. In addition, the deferred amount will be paid in 2021 over 12 months at no interest; equating to an additional $3,779.63 per month. These terms provide financial relief to the City at a time of decreased revenue due to COVID-19. | |
| Recommendation Approval | |
| Contact David Keating, Senior Director of Real Estate Services | |
| Financial Impact Rent payments of $45,355.50 deferred from FY 2020 to FY 2021 | |
| Review Comments | |
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Attachments Exhibit 1: Map - 602 E Lathrop Avenue.pdf Exhibit 2: Proposed Second Amendment - 602 E Lathrop Avenue.pdf |
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