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September 9, 2021 City Council Regular Meeting | |
Title 33. Approval of a 3-Year Lease Agreement in an Amount of $34,000 Per Year for a Facility at 5521 Abercorn Street for the Project DeRenne Relocation Assistance Program (RAP). The RAP will be Chaired by City Staff and Operated by a Committee of City, Federal, State and Local Partners. Office Space is Needed for the RAP so Affected Owners & Tenants can Obtain Information and Resources on the Project. | |
Strategic Priority Infrastructure | |
Description The design phase and environmental approvals associated with the first phase of the DeRenne By-Pass project are nearly complete and the Right-of-Way (ROW) acquisition phase is set to begin in the second quarter of 2022. This project will require ROW acquisition across forty-three parcels, the majority of which are residential. The ROW acquisition phase will require three years to complete. The City is going above and beyond the normal requirements of the Uniform Act (Federal law) and Georgia Landowner’s Bill of Rights (State law) and is establishing a Relocation Assistance Program (RAP) to provide additional resources to property owners and tenants affected by the property acquisition needed for Project DeRenne. The RAP will be chaired by City staff and operated by a committee of City, Federal, State and local partners. A location (office) near the project area is needed to house the RAP so that affected owners and tenants can obtain information and resources on the project, meet with appraisers, acquisition agents, consultants and resource providers/partners, and obtain other resources and services. Staff has identified a 1,500 square foot space at 5521 Abercorn Street, Unit 400, as a nearby and functional location for the RAP. This location is directly adjacent to the City-owned Development Services building and within walking distance of affected properties. Proposed terms follow:
Staff has procured a Comparative Market Analysis (CMA) and broker opinion of value from the City’s annual contract real estate broker, Collier’s International. Colliers’ opinion of value for this space is $20-$22 per square foot triple net base rent. The proposed contract rent is $19/SF triple net. Funding will be paid with project funds. | |
Recommendation Approval | |
Contact David Keating, Senior Director of Real Estate Administration | |
Financial Impact Approximately $34,000 per year in base and pass through rent from DeRenne Project Account | |
Review Comments | |
Attachments Exhibit 1: Map - 5521 Abercorn Street.pdf Exhibit 2: Blue Sky Boulevard Exhibit - Project DeRenne.pdf Exhibit 3: Map - Project DeRenne.pdf LL signed Lease - 5521 Abercorn Street.pdf |
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