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Proposed rent increase and 5-year lease could draw on PI reserves, officials say
Summary
Director Bill said Coldwell Bank offered a 5-year lease at $3,164 per month with 2.5% annual increases; officials warned the increase would reduce program reserves and recommended commissioners consider options including county-provided space near the courthouse.
Board members heard a report on a proposed rent increase for the program—s office space that officials said would affect the program—s internal reserves. Director Bill said Coldwell Bank has proposed renting the office space at $3,164 a month on a five-year lease with a 2.5% annual increase; that rate annualizes to $37,968 for the first year.
"That will just cut into our PI fund because the DOC will not be increasing their grant," Bill said, describing how an increase in rent would likely be…
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