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A resolution approving Amendment One to a Lease Agreement by and between the Metropolitan Government of Nashville and Davidson County acting by and through the Metropolitan Board of Education and Conexion Americas (Proposal No. 2022M-035AG-001).
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WHEREAS, The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Board of Education, and Conexion Americas previously entered into a lease agreement, approved by BL2022-1511, for the purpose of an EL office and Pre-Kindergarten; and,
WHEREAS, the parties desire to amend the lease agreement; and,
WHEREAS, Amendment One to the lease agreement is attached hereto and incorporated herein; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that the amendment to the lease agreement be approved.
Now, therefore, be it Enacted by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. This amendment one to the Lease agreement between The Metropolitan Government of Nashville and Davidson County and Conexion Americas, which is attached hereto and incorporated herein, is hereby approved.
Section 2. This resolution shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves the first amendment to a lease agreement between the Metropolitan Board of Education (“MNPS”) and Conexion Americas.
The lease agreement was first approved by Ordinance No. BL2022-1511 to house pre-kindergarten and early learning office space at 2195 N. Nolensville Pike, a portion of the structure known as Casa Azafrán.
The proposed amendment provides for MNPS to lease approximately 9,050 square feet with additional parking spaces. This includes approximately 8,710 square feet of pre-kindergarten space, 244 square feet for the EL office, and 96 square feet for additional office space.
Pre-Kindergarten space (8,710 square feet):
• Year 1: $9,493.90 per month ($1.09 per square foot)
• Year 2: $9,842.30 per month ($1.13 per square foot)
• Year 3: $10,277.80 per month ($1.18 per square foot)
• Year 4: $10,713.30 per month ($1.23 per square foot)
• Year 5: $11,148.80 per month ($1.28 per square foot)
• Year 6: $11,594.90 per month ($1.33 per square foot)
• Year 7: $12,019.80 per month ($1.38 per square foot)
• Year 8: $12,455.30 per month ($1.43 per square foot)
• Year 9: $12,977.90 per month ($1.49 per square foot)
• Year 10: $13,500.50 per month ($1.55 per square foot)
EL Office space (244 square feet):
• Year 1: $898.35 per month ($3.39 per square foot)
• Year 2: $861.32 per month ($3.53 per square foot)
• Year 3: $932.08 per month ($3.82 per square foot)
• Year 4: $1,088.24 per month ($4.46 per square foot)
• Year 5: $1,224.88 per month ($5.02 per square foot)
• Year 6: $1,378.60 per month ($5.65 per square foot)
• Year 7: $1,432.28 per month ($5.87 per square foot)
• Year 8: $1,490.84 per month ($6.11 per square foot)
• Year 9: $1,549.40 per month ($6.35 per square foot)
• Year 10: $1,612.84 per month ($6.61 per square foot)
Additional office space (96 square feet):
• Year 1: $414.72 per month ($4.32 per square foot)
• Year 2: $432.00 per month ($4.50 per square foot)
• Year 3: $450.24 per month ($4.69 per square foot)
• Year 4: $468.48 per month ($4.88 per square foot)
• Year 5: $488.64 per month ($5.09 per square foot)
• Year 6: $507.84 per month ($5.29 per square foot)
• Year 7: $529.92 per month ($5.52 per square foot)
• Year 8: $551.04 per month ($5.74 per square foot)
• Year 9: $573.12 per month ($5.97 per square foot)
• Year 10: $596.16 per month ($6.21 per square foot)
No more than $1,750,000 shall be paid in full under the terms of the lease.
The initial term of the lease agreement remains the same, commencing on January 1, 2023 and ending on December 31, 2032.
Fiscal Note: This lease amendment increases Metro Nashville Public School’s rentable square feet from approximately 8,975 to 9,050 from Conexion Americas. The Pre-Kindergarten space remains the same at 8,710 square feet, the EL Office space was reduced by 41 square feet from 265 to 244 square feet and added 96 square feet for the additional office space. The total rent will increase from $1,550,000 to $1,750,000 for the remaining terms of the lease agreement.