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A resolution approving the Fourth Amendment to the Lease Agreement between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Nashville Police Department, and Signature Center, L.P. for office space for the Police Advocacy Support Services (“PASS”) Program (Proposal No. 2021M-005PR-001).
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WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”), acting by and through the Metropolitan Nashville Police Department, and Signature Center, L.P. are parties to a Lease Agreement approved by Ordinance O96-298 to provide office space for the PASS Program; and,
WHEREAS, Metro and Signature Center, L.P. executed a First Amendment to said lease on August 9, 2001, to extend the term of the original lease, which lease amendment was approved by BL2001-760; and,
WHEREAS, Metro and Signature Center, L.P. executed a Second Amendment to said lease on July 19, 2006, to extend the term of the lease by five years, which lease amendment was approved by RS2006-1374; and,
WHEREAS, Metro and Signature Center, L.P. executed a Third Amendment to said lease on June 8, 2011, to extend the term of the lease by ten years, which lease amendment was approved by RS2011-1678; and,
WHEREAS, Metro and Signature Center, L.P. have agreed to a Fourth Amendment to the Lease Agreement; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this Fourth Amendment to the Lease Agreement be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That this Fourth Amendment to the Lease Agreement between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Nashville Police Department, and Signature Center, L.P. for office space for the Police Advocacy Support Services Program, a copy of which is attached hereto and incorporated herein, is hereby approved and the Director of Public Property or his designee is authorized to execute it on behalf of the Metropolitan Government.
Section 2. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves a fourth extension of a lease agreement between the Metropolitan Government and Signature Center, G.P. for the lease of 4,945 feet of office space in the building located at 1900 Church Street for use by the police advocacy support services (PASS) division. Metro has leased this space since 1996. This amendment extends the term of the lease for three years beginning July 1, 2021, and ending June 30, 2024. The monthly rent will be $11,373.50 in year one, $11,715.53 in year two, and $12,065.80 in year three. Metro will have the option to terminate the lease after year two, but will pay a slightly higher rent if it exercises the termination option. The premises are being leased in an as-is condition.
This lease amendment has been approved by the planning commission.