AGENDA ITEM SUMMARY
Consider Third Amendment to the Intergovernmental Contract between the City of Griffin and Three Rivers Regional Commission to provide for early termination of the rental of property located at 120 North Hill Street. City Manager Kenny Smith will address.
| SPECIAL CONSIDERATIONS OR CONCERNS: |
This amendment to the 1996 Intergovernmental Agreement for the lease and occupancy of Three Rivers offices at 120 N. Hill St. Said amended agreement was for thirty (30) years, with a termination date and $1 buyout on June 30, 2017. Due to necessary repairs needed to the structure and the cost of those repairs, this amendment allows for a one year earlier termination and buyout so that the $30,000 annual rent payment for 2016 - 2017 can be put toward structural repairs by TRRC. Instead of a term date of June 30, 2017, the new term date would be June 30, 2016. This agreement also holds the City harmless for any needed repairs through June 30, 2016. There would be no effect on the City's FY16 budget.
Staff recommends approval
Loss of $30,000 rent payment in FY 2017, but relief from having to make repairs. |