Title
Resolution Authorizing the Execution of a Lease Agreement Between the City of Hampton and the School Board of the City of Hampton for the use of Office Space on the Second, Third, Fourth, and Fifth Floors in the Ruppert L. Sargent Building Located at 1 Franklin Street, Suite 603, Hampton, Virginia
Purpose
PURPOSE/BACKGROUND:
In 2000, the City issued general obligation bonds to fund the construction of multiple capital projects, including an office building in downtown Hampton to house school and city administrative offices then leased space from third parties.
The Ruppert L. Sargent Building ("RLS") Building was certified for occupancy October, 2002 and has been continuously occupied since that time by School Board administrative offices and certain City offices; the City and School Board have maintained a regular and continuous course of dealing regarding a split of the costs necessary to maintain the Building based on the respective use by each Party, and desire to memorialize that relationship through this Lease.
The School Board occupies the second (2nd), third (3rd), fourth (4th) and fifth (5th) floors of the RLS Building, and is entitled to use all common areas, including, but not limited to, the first floor conference rooms. In lieu of a stipulated rent amount, the School Board annually pays to the City its pro-rata share of the operating costs for the RLS Building.
Pursuant to the provisions of Code of Virginia § 15.2-1800, no public hearing is required, as the School Board, like the City, is a public body, and is therefore exempt from the requirement of a public hearing on the lease pursuant to Virginia Code § 15.2-1800.
Discussion:
See Purpose/Background Above.
Impact:
See Purpose/Background Above.
Recommendation:
Rec
Approve Resolution
Body
WHEREAS, in 2000, the City envisioned and financed the construction of the Ruppert L. Sargent Building (the "RLS Building"), with the intent to sa...
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