Title
Recording for the Blind and Dyslexic Lease Agreement
History
As you know, the Recording for the Blind and Dyslexic was offered 2,367 square feet of space in the 17,089 square foot former Village of Orland Park Police station, located at 14600 South Ravinia Avenue. Attached for your consideration is the lease agreement. The agreement provides for a lease term of ten (10) years at an annual rent rate of twelve dollars ($12.00). At any time following expiration of the first five (5) years of the lease term the Village may terminate the lease agreement effective six (6) months following written notice form Landlord to Tenant.
At their own expense, the Recording for the Blind and Dyslexic has begun working with Studio GC Architects (a.k.a. Gilfillan Callahan Nelson Architects) to design the interior build-out of their space. This is the same firm used to design the exterior work currently underway and the Space Needs Analysis we completed for this facility. They will work within the plans designed for the upper level of this facility and have requested the Village staff be apprised throughout their planning to ensure that the build-out meets the requirements of the Village.
Financial Impact
Revenue of $12.00 per year for ten (10) years plus a thirteen point eighty-five percent (13.85%) pro rata portion of all CAM charges not to exceed five hundred dollars ($500.00) per month.
Recommended Action/Motion
I move to approve a lease agreement with the Recording for the Blind and Dyslexic
And
To authorize the Village Manager to execute the agreement.