Title
Resolution Authorizing the Execution of a Lease Agreement Between the City of Hampton and Hampton Redevelopment and Housing Authority for the Use of Approximately 4,992 ± Square Feet of Office Space in the Ruppert L. Sargent Building Located at 1 Franklin Street, Suite 603, Hampton, Virginia
Purpose
PURPOSE/BACKGROUND:
The Hampton Redevelopment and Housing Authority (“HRHA”) agreed to move its office space on the 5th floor of City Hall to the 6th floor of the Ruppert L. Sargent Building as an accommodation to the City. That move allowed the Planning and Neighborhood Housing Divisions of the Community Development Department to occupy the (former) HRHA space on the 5th floor and brought all of Community Development under one roof in City Hall. The 2019 lease for the Ruppert L. Sargent Building space expired on June 30, 2024, and the HRHA has continued to occupy and use that office space as a holdover tenant under that lease. A new lease has been negotiated, for one year, with an option to renew for 4 additional one-year terms, to be effective September 1, 2024. The fourth one-year term will expire on August 31, 2029, and both the HRHA and City desire to continue this relationship. Under the proposed new lease, HRHA will pay $15,255 for the Initial Term, commencing September 1, 2024 for one year with an option to automatically renew for 4 additional one-year terms. That lease also provides for an annual rental increase of 3%.
The HRHA is scheduled to consider and act on the terms of the lease at its meeting to be held August 28, 2024. Pursuant to the provisions of Code of Virginia § 15.2-1800, no public hearing is required, as the HRHA is a political subdivision of the Commonwealth, and is exempt from the requirement of a public hearing on the lease under Virginia Code § 15.2-1800.
City staff recommends approval of the Resolution.
Discussion:
See Purpose/Background Above.
Impact:
See Purpose/Background Above.
Recommendation:
Rec
A...
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