FACILITIESDISCUSSED

City of Rowlett City Council Meeting Agenda February 2023

Rowlett Considers Library Lease Extension and Expansion

Approximately $200,961 annually for existing space; additional $50,000 annually for proposed expansion space; $225,000 construction and $30,000 FF&E for expansion buildoutCity of Rowlett cityBUCHANAN STREET PARTNERSFebruary 7, 2023

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Description

Rowlett staff outlined a proposed amendment and extension of the Rowlett Public Library lease with Buchanan Street Partners, including five-year base term with two two-year extensions and approximately $200,961 in annual rent for the existing space. Council also reviewed a potential 2,514-square-foot expansion at about $50,000 in additional annual rent plus $255,000 in construction and furnishings.

Contract Details

Contract Amount

Approximately $200,961 annually for existing space; additional $50,000 annually for proposed expansion space; $225,000 construction and $30,000 FF&E for expansion buildout

Vendor

BUCHANAN STREET PARTNERS

Agency

City of Rowlett city, TX

Contract Type

FACILITIES

Document Date

February 7, 2023

Contract Term

Proposed 60-month term with two two-year extensions (lease amendment for existing library space and potential expansion); original 60-month term with two one-year extensions

Renewal Info

Original 2018 lease: 60-month term with two one-year extensions at variable rates up to $16.25/sf annually. Proposed 2023 amendment: 60-month term with two two-year extensions at $16.20/sf annually with roughly 3% annual increases, CAM charges rolled into the rent; expansion space offered at $20/sf annually. Council discussion only; renewal not yet formally approved in this item.