HomeMy WebLinkAbout2011-10-7868ORDINANCE NO. 2011-10-7868
AN ORDINANCE AUTHORIZING AND DIRECTING THE MAYOR TO
EXECUTE A LEASE MODIFICATION AGREEMENT BETWEEN THE COMMONWEALTH
OF KENTUCKY, DEPARTMENT FOR FACILITIES MANAGEMENT, DIVISION OF REAL
PROPERTIES AND THE CITY OF PADUCAH FOR LEASE OF PROPERTY FOR THE
DEPARTMENT OF CORRECTIONS PROBATION/PAROLE LOCATED AT 400 SOUTH 6TH
� STREET
WHEREAS, the Commonwealth of Kentucky, Department for Facilities
Management, Division of Real Properties, has been leasing the building located at 400 South 6`h
Street for Probation and Parole since 1997; and
WHEREAS, the Commonwealth has requested to lease an additional 3,423
square feet, increasing the total leased square footage from 3,397 square feet to 6,820 square feet;
to reduce the rental rate per square foot from $11.50 to $10.50 per square foot; to change the
payment frequency from monthly to quarterly; to add seven automatic extension periods at the
revised terms and conditions, resulting in a new lease expiration date of June 30, 2019; and
WHEREAS, the City of Paducah desires to accept the modifications to the
agreement, therefore making it necessary for execution of a modification to Lease Agreement PR -
4096.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah hereby approves the modifications
contained in the Commonwealth of Kentucky Lease Modification Agreement dated August 31,
2011, PR Number 4096, McCracken County, between the Commonwealth of Kentucky,
Department of Corrections, Probation and Parole and the City of Paducah for property located at
400 South 6`h Street, Paducah, Kentucky. Further, the City of Paducah hereby authorizes the
Mayor to execute the Lease Modification Agreement. The annual rental fee will be paid quarterly
at a rate of $17,902.50. Said modifications shall commence on October 1, 2011, with an
expiration date of June 30, 2012. This Agreement also includes seven (7) one-year automatic
extensions unless otherwise terminated by the Commonwealth of Kentucky.
SECTION 2. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
ATTEST:
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners, September 27, 2011
Adopted by the Board of Commissioners, October 11, 2011
Recorded by Tammara S. Brock, City Clerk, October 11, 2011
Published by The Paducah Sun, October 17, 2011
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