15027 1 RESOLUTION NO. 15,027
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO
4 EXECUTE A ONE (1)-YEAR LEASE AGREEMENT WITH CRAIN
5 INVESTMENTS, LP, AND KELLEY COMMERCIAL REALTY, LLC, IN
6 THE AMOUNT OF TWO HUNDRED FOURTEEN THOUSAND, EIGHT
7 HUNDRED THIRTY-ONE AND 32/100 DOLLARS ($214,831.32), FOR
8 OFFICE AND STORAGE SPACE FOR THE LITTLE ROCK POLICE
9 DEPARTMENT; AND FOR OTHER PURPOSES.
10
11 WHEREAS,the Little Rock Police Department(LRPD) is in need of additional Office and Storage
12 Space;and,
13 WHEREAS, LRPD is requesting approval to enter into a one (1)-year Lease Agreement with Crain
14 Investments,LP, and Kelley Commercial Realty,LLC, for Office and Storage Space; and,
15 WHEREAS, the initial lease term will begin August 1, 2019, through July 31, 2020, for a monthly
16 rental amount of Seventeen Thousand,Nine Hundred Two and 61/100 Dollars($17,902.61); and,
17 WHEREAS, the Lease Agreement shall include an option to renew the lease for six (6) additional
18 one(1)-year terms at a monthly rental amount of:
19 Year 1: Eighteen Thousand,Three Hundred Ninety-Four and 93/100 Dollars($18,394.93)
20 Year 2: Eighteen Thousand,Nine Hundred and 80/100 Dollars($18,900.80)
21 Year 3: Nineteen Thousand Four Hundred Twenty and 57/100 Dollars $19,420.57)
22 Year 4: Nineteen Thousand,Nine Hundred Fifty-Four and 64/100 Dollars($19,954.64)
23 Year 5: Twenty Thousand,Five Hundred Three and 38/100 Dollars($20,503.38)
24 Year 6: Twenty-One Thousand Sixty-Seven and 23/100 Dollars $21,067.23
25 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
26 CITY OF LITTLE ROCK,ARKANSAS:
27 Section 1. The City Manager is hereby authorized to execute.a Lease Agreement with the option to
28 renew the lease for six (6) additional one (1)-year terms, as appropriate and in a form approved by the
29 City Attorney, with Crain Investments, LP, and Kelley Commercial Realty, LLC, for Office and Storage
30 Space for the Little Rock Police Department, the lease term shall begin August 1, 2019, through July 31,
31 2020.
32 Section 2. Rental amounts for the initial one (1)-year term, per month will be Seventeen Thousand,
33 Nine Hundred Two and 61/100 Dollars ($17,902.61); for a total first year rental cost of Two Hundred
34 Fourteen Thousand, Eight Hundred Thirty-One and 32/100 Dollars ($214,831.32); and, the monthly
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I renewal rental cost for Renewal Year 1 will be Eighteen Thousand, Three Hundred Ninety-Four and
2 93/100 Dollars ($18,394.93); Renewal Year 2 will be Eighteen Thousand, Nine Hundred And 80/100
3 Dollars ($18,900.80); Renewal Year 3 will be Nineteen Thousand, Four Hundred Twenty and 57/100
4 Dollars ($19,420.57); Renewal Year 4 will be Nineteen Thousand,Nine Hundred Fifty-Four and 64/100
5 Dollars($19,954.64); Renewal Year 5 will be Twenty Thousand,Five Hundred Three and 38/100 Dollars
6 ($20,503.38); and Renewal Year 6 will be Twenty-One Thousand, Sixty-Seven and 23/100 Dollars
7 ($21,067.23), and funding is available in the Special Investigations Departmental Budget, Rent Account
8 No. 105215-65140.
9 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
10 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
11 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
j 12 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
13 resolution.
14 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
15 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
16 ADOPTED: July 23,201.9
17 APPROVED:
I
18
19
20 n an ey, ity Clerk Frank Cott, r. ayor
21 APPR S TO LEGAL FORM:
22
23
24 Thomas M.Carpenter,City At ney
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