Title
Resolution to Approve the Second Amendment to the Lease with 2725/2805 Associates, LLC (successor to First Industrial, L.P.) for Administrative and Video Production Space for the City Community Television Network (2805 S. Industrial Highway, Ste. 200 Eisenhower Corporate Park) (8 Votes Required)
Memorandum
The attached Resolution authorizes the Second Amendment to the Lease with 2725/2805 Associates, LLC (successor to First Industrial, L.P.) for Administrative and Video Production Space for the City Community Television Network (2805 S. Industrial Highway, Ste. 200 Eisenhower Corporate Park) ("Second Amendment").
Budget/Fiscal Impact: The necessary funding will be budgeted annually during the term of the lease. Base Rent for the first year of the renewal term will be $131,959.08.
Since 2008, Community Television Network (CTN) has leased approximately 7,735 square feet of office space in the Eisenhower Corporate Park building located at 2805 S. Industrial Highway, Ste. 200 in Ann Arbor. The City's current lease will expire on August 31, 2023. The Second Amendment extends the term of the lease for an additional five-year period and adds an option for early termination after three years.
The Communications Office and City Administrator are requesting that City Council authorize the Mayor and City Clerk to sign the Second Amendment on behalf of the City after review and approval by the City Administrator and City Attorney.
Staff
Prepared by: Michelle Landis, Senior Assistant City Attorney
Reviewed by: Lisa Wondrash, Communications Director
Approved by: Milton Dohoney Jr., City Administrator
Body
Whereas, The City of Ann Arbor Community Television Network has leased office space in the Eisenhower Corporate Park Building located at 2805 S. Industrial Highway, Suite 200 in Ann Arbor since 2008;
Whereas, CTN's current lease will expire on August 31, 2023;
Whereas, The City Administration has determined it is in the best interest of the City to ext...
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