File #: C-14-9    Version: 1 Name:
Type: Communication Status: Approved
File created: 3/14/2014 In control: Albuquerque Bernalillo County Water Utility Authority
On agenda: 3/19/2014 Final action: 3/19/2014
Title: Approving Lease Extension with the Sheehan Complex
Sponsors: Albuquerque Bernalillo County Water Utility Author
Attachments: 1. C-14-9
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Approving Lease Extension with the Sheehan Complex
 
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Summary:  
The Water Authority requests approval of the attached lease extensions with the Sheehan Complex for the office space currently occupied by the Water Authority's Northwest Service Area. These lease extensions will continue to provide office space for Water Authority staff and operations on the City's Westside without interruption.  The 1st lease extension will be for a five year period, and the 2nd extension is for a four year period.
 
Fiscal Impact:
The 1st lease amount is $54,396 per year which is $13.50 per square foot and will increase by 2% a year for the next 4 years.  The 2nd lease amount is $13,356 per year which is $13.50 a square foot and will increase by 2% a year for the next 3 years. Funding for this lease is included in the approved budget for fiscal year 2014 and will be appropriated in future budgets.