Provalus to enter Lease Agreement With Town Of Edenton

The Town intends to ground lease the Project to the Main Street Affiliate for a term of ninety-nine years, lease the Project back from the Main Street Affiliate and then sublease. The proposed consideration to be paid to the Town under the Provalus Sublease is expected to be: (i) for the first five years thereof, $1.00 per square foot of the premises to be leased (i.e., $16,077 per year), (ii) for the second five years thereof, $2.00 per square foot of the premises to be leased (i.e., $32,154 per year) and (iii) for any year after the tenth year thereof, $10.00 per square foot of the premises to be leased, (i.e., $160,770 per year (in the first such year)) plus annual increases based upon increases, if any, in the consumer price index.

Scope & details

The full contract record, as filed.

Contract amount

$16,077 to $160,770

Contract type

Lease

Contract term

Yearly

Document type

Agenda

Source document

town-of-eden-agenda-2025-07-08_57c.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the lease contract by Town of Eden?

PROVALUS was awarded this lease contract by Town of Eden, as recorded on July 8, 2025. The contract value is $16,077 to $160,770.

How much is the PROVALUS contract with Town of Eden worth?

The PROVALUS contract with Town of Eden is valued at $16,077 to $160,770, covering lease work.

What type of contract is this?

This is a Lease contract, documented as a agenda record.

Where was this contract approved?

This contract appears in town-of-eden-agenda-2025-07-08_57c.pdf (Agenda), dated July 8, 2025 from Town of Eden. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does PROVALUS hold?

PROVALUS may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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