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Subcommittee approves five-year DPH lease at Fox Plaza with technical corrections
Summary
The committee approved a five-year lease renewal and amendment for about 27,826 square feet at 1390 Market Street for the Department of Public Health's Environmental Health Section at an approximate base monthly cost of $82,008; staff noted two typographical corrections to date and square-foot figures.
The Budget and Finance Subcommittee on May 22 approved a five-year lease renewal for approximately 27,826 square feet at 1390 Market Street (Fox Plaza) for the Department of Public Health—s Environmental Health Section, with a base monthly rent reported at about $82,008.18.
John Updike, Director of Real Estate, said the lease reflects a modest net increase in space (from roughly 25,939 to 27,826 sq ft) to accommodate growth in weights-and-measures functions. He described the negotiated lease rate (just under $36 per square foot per year) fixed for the five-year term and noted a one five-year renewal option subject to Board approval at that time.
Updike and the budget analyst identified two typographical errors in the resolution text (a November date that should be Dec. 1, 2013, and a square-footage correction from 27,846 to 27,826), which the committee adopted as technical amendments before approving the lease. The budget analyst provided a first-year cost estimate of $1,131,006.96 that includes rent, utilities and one-time costs.
There was no public comment. The committee approved the amended resolution to move forward without objection.
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