Item:
Title
Approve Lease Agreement Between Superior Insurance and Durham County for the Shoppes at Hope Valley, Suite 118 for One Year in the amount of $26,256.00, with Two One-Year Options to Renew
Body
Date of BOCC Meeting: March 25, 2024
Request for Board Action:
Agenda Text
The Board is requested to approve a lease agreement with Superior Insurance to operate in the Shoppes at Hope Valley located at 3825 South Roxboro Street, Suite 118, and authorize the County Manager to execute the lease agreement in accordance with the terms and conditions as set forth in the Lease Agreement attached to this agenda item. The proposed lease term is from April 1, 2024, to March 31, 2025. This Lease will continue and maintain the terms of the original lease as previously facilitated by the County's predecessor-in-interest in the Shoppes at Hope Valley.
Superior Insurance has occupied the lease space at the Shoppes of Hope Valley since 2011 and has been a tenant in good standing since that time. The lease agreement under which they have maintained their tenancy has expired and a new lease is required to continue their tenancy.
This Lease Agreement will maintain the positive community, economic, and property value interests of County citizens, Shoppes at Hope Valley co-Tenants, and County departments who are neighbors to the Tenant on the premises at the Shoppes at Hope Valley.
Alignment with Strategic Plan: The attached Lease Agreement supports Goal 1 "Community Empowerment and Enrichment," and Goal 5 "Accountable, Efficient and Visionary Government."
Resource Persons: Nancy Mitchell, Senior Real Estate Officer; Peri Manns, Deputy Director Engineering and Environmental Services; Jay Gibson, P.E., Director of Engineering & Environmental Services.
County Manager's Recommendation: The County Manager recommends that the Board approve and authorize execution of a Lease Agreement with Superior Insurance to operate in the Shoppes at Hope Valley located at 3825...
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