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April 11, 2024, City Council Regular Meeting
38. Authorize the City Manager to Execute an Amendment to Extend the Intergovernmental Lease Agreement at the Coastal Georgia Center Located at 305 Fahm Street for Five Years at an Initial Rate of $553,661 per Year (Escalating at 3% per Year).
Strategic Priority
Good Government

The City currently leases approximately 35,000 square feet of the Coastal Georgia Center located at 305 Fahm Street owned by the Board of Regents of the University System of Georgia. The City operates a customer service payment center at the facility and also provides office space to the Revenue, Finance, Purchasing, and Human Services Departments. The Coastal Georgia Center is located next to the City’s MLK Visitor Center and enjoys on-site parking for staff and customers. 


The proposed amendment provides the option to extend the agreement for five (5) additional, one-year renewals subject to agreement by both parties. The rental rate is the current rental rate for the first year and escalates at 3% per year for every subsequent year (years 2-5). Thus, the rental rate from June 2024 through May 2025 will be $553,661 (or approximately $15.82 per square foot). This extension will provide additional time for the City to acquire or develop a permanent facility for this revenue operation and the various departments currently housed at this facility.



David Keating, Senior Director, Real Estate Administration Services
Financial Impact
Expenditure of $553,660.68 for Lease Year from June 2024-May 2025 Then escalates at 3% per year for every subsequent year (years 2-5)
Review Comments
Exhibit 1: Map - 305 Fahm Street.pdf
Exhibit 2: Fully Executed IGA - 305 Fahm St.pdf
Exhibit 3: First Amendment to Contract.pdf
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