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Approve a Lease Agreement with the United States Postal Service for an annual lease of $271,262 for the County owned real property at 600 Kentucky Street, Fairfield for a five-year term commencing April 1, 2021 and expiring March 31, 2026 with two 5 (five) year options; Approve a Commission Agreement with Jones Lang LaSalle for $20,345 for brokerage fees; and Authorize the County Administrator to execute any necessary subsequent modifications or amendments
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
The Department of General Services recommends that the Board of Supervisors:
1. Approve a Lease Agreement with the United States Postal Service for an annual lease of $271,262 for the County owned real property at 600 Kentucky Street, Fairfield for a five-year term commencing April 1, 2021 and expiring March 31, 2026 with two 5 (five) year options;
2. Approve a Commission Agreement with Jones Lang LaSalle for $20,345 for brokerage fees; and
3. Authorize the County Administrator to execute any necessary subsequent modifications or amendments.
SUMMARY/DISCUSSION:
The United States Postal Service (USPS) entered into a lease agreement with the City of Fairfield for the property located at 600 Kentucky Street, Fairfield (APNs 0030-161-030 and 0030-151-130) effective April 1, 1981. The County purchased the property from the City of Fairfield on April 12, 2006, including the assigned lease. The current lease is set to expire on March 31, 2021. USPS, in accordance with its Lease Protection Policy, is required to formalize new lease agreements, at current market rates, well in advance of current lease expiration dates to allow enough time to identify and negotiate a new location should there no be longer mutuality between tenant and landlord.
USPS has requested the County enter a new lease for a 5-year term commencing April 1, 2021 and expiring March 31, 2026 with two ...
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