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CASE # " T OS <br />CONSIDER OFFER TO LEASE PROPERTY LOCATED <br />AT 7550 SUNWOOD DRIVE NW <br />By: Sean M. Sullivan, Economic Development Coordinator <br />Background: <br />The City of Ramsey currently leases the Municipal Center from the Ramsey EDA. Staff has been <br />in negotiations with Anoka County to locate the Ramsey branch of the Anoka County License <br />Bureau to the first floor of the Ramsey Municipal Center. The EDA has consented to the subletting <br />of 7550 Sunwood Drive NW. The attached lease has been agreed to by the City and County <br />attorneys, and is presented for City Council consideration. Some pertinent terms of the lease are <br />highlighted below. <br />Leased Space: 2,200 SF of Office Space and 466 SF of Shared Space. <br />Term: July 1, 2010 — June 30, 2015 with three (3) five (5) year term options. <br />Rent: $13.00 /SF for 2,200 SF of Office Space ($13.00 X 2200 = $28,600) + $5.20 /SF for <br />CAM charges both the Office and Shared Space ($5.20 X 2666 = $13,863.20) _ <br />$42,463.20 / year. <br />Taxes: Currently no taxes due on the property. If taxes become due on this property at a <br />later date the Tenant will be responsible for its Pro -rata share. <br />Uses: Commercial office space for the Tenant's License Center Facility. <br />Insurance: Anoka County is self - insured and will maintain public liability insurance on <br />Subject Parcel consistent with the coverage provided to Anoka County facilities. <br />Utilities: Covered by CAM <br />Subletting: Subject to consents of City of Ramsey and Interested Parties in the real estate. <br />Improvements: Tenant will take the space as -is upon completion of the Construction of <br />Improvements under Article 11 of the lease. <br />Comments: Execution of the attached lease is contingent on City Attorney approval. <br />Enclosures: <br />Exhibit identifying lease space configuration <br />Lease between City of Ramsey and Anoka County <br />Funding Source: N/A <br />