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Council authorizes five-year extension of Golden Belt lease, approves optional extension
Summary
Durham City Council authorized the city manager to execute a fourth amendment extending the lease at Golden Belt Building 2 (Suite 300) for five years — a total of $2,208,440 over that term — and approved an optional additional five-year extension in the amount of $2,776,634; motions passed unanimously following brief public comment asking about ownership and past city investments.
Durham City Council on March 1 voted unanimously to authorize the city manager to execute a fourth amendment extending the existing lease with LRC GB LLC for office space at Building 2, Suite 300 of the Golden Belt complex (807 East Main Street). The lease-extension authorization cites a total not-to-exceed amount of $2,208,440 for the five-year term.
Council then authorized an option for a further five-year extension in the amount of…
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