Lake County Illinois - File #: 09-1497

• File #: 09-1497
• Version: 1
• Name: Lease Extension for Workforce Development
• Type: resolution
• Status: Passed
• File created: 4/27/2009
• In control: Financial & Administrative Committee
• Final action: 5/12/2009
• Title: Resolution authorizing the Purchase Agent to negotiate and the Chair of the County Board to execute a lease agreement for a five-year term between the College of Lake County District 532 and Lake County for the premises located at 1 No. Genesee St. 1st Fl., Waukegan IL.

Date	Ver.	Action By	Action	Result
5/12/2009	1	Lake County Board	adopted	Pass
5/6/2009	1	Financial & Administrative Committee	recommended for adoption to the consent agenda	Pass

Title

Resolution authorizing the Purchase Agent to negotiate and the Chair of the County Board to execute a lease agreement for a five-year term between the College of Lake County District 532 and Lake County for the premises located at 1 No. Genesee St. 1^st Fl., Waukegan IL.

Staff Summary

•                     The current lease agreement for the College of Lake County and Lake County expires June 30, 2009.

•                     Lake County desires to renew the lease agreement for the 1^st floor of 1 No. Genesee St., Waukegan IL.

•                     Renewal lease term is a five-year term, beginning July 1, 2009 and expiring June 30, 2014.

•                     Monthly rent payment for 9,665 square feet is $13,570, for an annual rent payment of $162,840.

Body

WHEREAS, The current lease agreement for the premises located at 1 No. Genesee St. 1^st Floor, Waukegan, IL expires on June 30, 2009.

WHEREAS,  Lake County would like to exercise its option to renew the Lease Agreement with the College of Lake County for a five-year term beginning July 1, 2009 and expiring June 30, 2014.

WHEREAS, the lease agreement provides for monthly rent payments as follows:

                     Term of Lease                                          July 1, 2009 - June 30, 2014

                     Total Space                                                               9,665 sq. ft

                     Monthly Payment                                          $13,570.00

NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the Purchasing Agent is authorized to negotiate the renewal of the Lease Agreement between College of Lake County and Lake County for a five-year term, beginning July 1, 2009 to June 30, 2010 and the Chair of the County Board be authorized to execute a Lease Agreement for Lake County offices located at 1 No. Genesee St. 1^st FL, Waukegan IL a copy of the agreement and an attachment are attached hereto and made a part of this Resolution.

DATED at Waukegan, Illinois, on this 12 day of May, A.D., 2009.