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| January 25, 2024 City Council Regular Meeting | |
| Title 22. Authorize the City Manager to Execute a Third Amendment to Extend the Lease Agreement for the Property at 602 East Lathrop Avenue (Savannah Police Department Northwest Precinct) in the Amount of $410,524.51. | |
| Strategic Priority Public Safety | |
| Description The City (tenant) currently leases a +/- 30,000 square foot facility located at 602 East Lathrop Avenue and operates it as the Northwest Precinct of the Savannah Police Department. The existing lease commenced in 2018 and expires at the end of 2024 with no additional extensions available. The landlord has agreed to amend and extend the lease for one additional year through the end of 2025. No additional extensions will be available beyond that date, so the City will need to lease, buy, or build a replacement by 2026. As a condition of the lease extension, the landlord has requested the City assume the electrical expense for the facility, which the landlord currently pays. The base rent for 2025 will escalate slightly at 2.5% to yield an annual rental cost of $410,525. | |
| Recommendation Approval | |
| Contact David Keating, Senior Director, Real Estate Administration Department | |
| Financial Impact Expenditure of $410,524.51 for Calendar Year 2025 from the General Fund | |
| Review Comments | |
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Attachments Exhibit 1 - 602 E Lathrop - Map.pdf Exhibit 2 - 602 E Lathrop - Original Lease.pdf Exhibit 3 - 602 E Lathrop - Third Amendment to Lease jnh01092024[28].pdf |
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