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WRCOG approves up to $1.9 million for tenant improvements in newly purchased building
Summary
The Western Riverside COG authorized up to $1.9 million for LED conversions, a small first-floor buildout and suite improvements in Suite 200 of a recently purchased building; the motion passed unanimously.
Dr. Kurt Wilson, WRCOG executive director, asked the Executive Committee to authorize up to $1.9 million for tenant improvements to WRCOG’s newly purchased building, and the committee approved the request unanimously.
Wilson said WRCOG purchased the building earlier in the year with cash, with a ballpark purchase price of $6.7 million and an authorized acquisition budget of $7 million; the purchase requires no new debt service. He said current annual lease payments WRCOG avoids by moving would result in a break‑even period of roughly 15 years in a no-tenant scenario, and that existing tenants provide additional…
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