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June 25, 2020 City Council Meeting | |
Title 24. Approval of a First Amendment to the Lease for 2250 East Victory Drive; Currently Used as the Eastside Precinct for Savannah Police Department | |
Strategic Priority Good Government | |
Description Staff have negotiated a rent relief provision with the landlord at 2250 East Victory Drive, which is currently being used by the Savannah Police Department as the Eastside Precinct. The landlord has agreed to work with the City and grant a 14% deferral in base rent from July 1, 2020 to December 31, 2020. This equates to a 2020 savings of $10,595.76. Commencing January 1, 2021, the City will resume rent amount at contract rates and commence repayment of the deferred amount spread over 6 monthly payments of $1,765.96. The deferral provides the City with economic relief in 2020 and repayment in 2021 would occur when conditions are forecast to be better. | |
Recommendation Approval. | |
Contact David Keating, Senior Director of Real Estate Services | |
Financial Impact 14% rent relief July 2020 to December 2020. | |
Review Comments | |
Attachments Exhibit 1: First Amendment Lease - 2250 E Victory Drive.pdf Exhibit 2: Map - 2250 E Victory Drive.pdf |
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