Title
Resolution authorizing execution of a lease for the Regional Superintendent of Schools with the College of Lake County in Grayslake.
Staff Summary
· The Regional Office of Education has leased space on the College of Lake County Campus in Grayslake through a sublet agreement through the Illinois Department of Employment Security since 1999.
· All parties agree it is in the best interest of the lease arrangement for the Regional Office of Education to lease directly for their space with the College of Lake County.
· The lease term is for four (4) years starting November 1, 2008. The lease covers a rentable square footage of 4,140 square feet which represents approximately 16% of the area of the building in which they reside.
· The lease will cost the County $70,003.95 for the first year and will be adjusted 2% annually for the four (4) year term.
· The County will be required to pay 16% of the utility bills and an annual rate of $10,225.80 for custodial/maintenance services being provided by the College.
Body
WHEREAS, the Regional Office of Education has leased space on the College of Lake County Campus in Grayslake through a sublet Agreement through the Illinois Department of Employment Security since 1999; and
WHEREAS, all parties agree it is in the best interest of the lease arrangement for the Regional Office of Education to lease directly for their space with the College of Lake County; and
WHEREAS, the lease term is for four years starting November 1, 2008. The lease covers a rentable square footage of 4,140 square feet which represents approximately 16% of the area of the building in which they reside; and
WHEREAS, the lease will cost the County $70,003.95 for the first year and will be adjusted 2% annually for the four year term, plus 16% of the utility bills and an annual rate of $10,225.80 for custodial/maintenance services being provided by the College; and
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, ...
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