HomeMy WebLinkAbout17103 1 RESOLUTION NO. 17,103
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A LEASE AGREEMENT ADDENDUM WITH CRAIN
5 INVESTMENTS, L.P. AND KELLEY COMMERCIAL REALTY, LLC, AS
6 ASSIGNED TO 3FC, LLC, IN AN AMOUNT NOT TO EXCEED EIGHT
7 HUNDRED AND TWELVE THOUSAND,NINE HUNDRED NINETY-TWO
8 DOLLARS ($812,992.00), TO EXTEND THE 3 FINANCIAL CENTER
9 LEASE FOR A THREE-YEAR TERM THROUGH JULY 2029; AND FOR
10 OTHER PURPOSES.
11
12 WHEREAS,the City entered into a lease agreement for office space on behalf of the Little Rock Police
13 Department("LRPD")as authorized by Little Rock,Ark Resolution No. 13804(November 19,2013); and,
14 WHEREAS,the City entered into a Second Amendment for additional space under the existing Lease
15 Agreement as authorized by Little Rock,Ark Resolution No. 14,846(August 21,2018); and,
16 WHEREAS, LRPD has a need to enter an addendum to the lease with Crain Investments, L.P. and
17 Kelley Commercial Realty, LLC, as assigned to 3FC, LLC, to extend the current lease which expires on
18 July 30,2026; and,
19 WHEREAS, per the terms of the proposed lease amendment, the cost to enter into a three (3)-year
20 lease extension with 3FC, LLC, is in an amount not to exceed Two Hundred Fifty-Nine Thousand, Seven
21 Hundred Eighty-Eight Thousand and 24/100 Dollars ($259,788.24) for Year 1, Two Hundred Sixty-Six
22 Thousand,Nine Hundred Seventy-Eight and 52/100 Dollars($266,978.52) for Year 2, and Two Hundred
23 Seventy-Four Thousand,Two Hundred Seventy-Three 08/100 Dollars($274,273.08)for Year 3,for a total
24 base rental amount not to exceed Eight Hundred One Thousand, Forty Dollars ($801,040.00), including
25 applicable taxes and fees,to extend the current lease for a period of three(3)years through July 2029.
26 WHEREAS,the City has been allotted six covered parking spaces without cost. The City has requested
27 an additional six covered spaces at a cost of Three Hundred and Thirty-Two Dollars ($332.00) per month
28 or Three Thousand,Nine Hundred Eighty-Four Dollars($3,984.00)per annum.
29 WHEREAS,the total contract amount for the three(3)-year term of the contract, including base rental
30 amount of Eight Hundred One Thousand, Forty Dollars ($801,040.00) and parking space rental for three
31 years in the amount of of Eleven Thousand, Nine Hundred and Fifty-Two Dollars ($11,952.00) shall not
32 exceed Eight Hundred and Twelve Thousand,Nine Hundred Ninety-Two Dollars($812,992.00).
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1 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
2 OF LITTLE ROCK,ARKANSAS;
3 Section 1. The City Manager is authorized to enter into a lease agreement addendum with Crain
4 Investments,L.P.and Kelley Commercial Realty,LLC,as assigned to 3FC,LLC,in an amount not to exceed
5 Eight Hundred and Twelve Thousand,Nine Hundred Ninety-Two Dollars ($812,992.00)for base rent and
6 reserved parking spaces,including applicable taxes and fees,to extend the current lease for a period of three
7 (3)years through July 2029.
8 Section 2. Funds for this expenditure are available in Little Rock Police Department's General Fund
9 Account No. 105215-65140.
10 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
11 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
12 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
13 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
14 resolution.
15 Section 4.Repealer. All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
16 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
17 ADOPTED: July 28,2026
18 ATTEST: APPROVED:
19
20 k9•1101CY1-
.
21 Allison Segars,City r Frank Scott,Jr.,Mayor
22 APPROVED AS TO LEGAL FORM:
23
4(,..
24 Olt
25 Thomas M.Carpenter,City Attorney
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