HomeMy WebLinkAboutParkview Office Complex - Tenant Improvements Suite 210X-(2,
CITY OF PALM DESERT
FINANCE DEPARTMENT
STAFF REPORT
REQUEST: APPROVE THE TENANT IMPROVEMENTS IN AN AMOUNT NOT
TO EXCEED $15,000 FOR SUITE 210 AT THE PARKVIEW
OFFICE COMPLEX, AUTHORIZE THE CITY MANAGER TO
APPROVE ALL EXPENDITURES UP TO $15,000, AND
APROPRIATE $15,000 FROM FUND 510.
SUBMITTED BY: PAUL S. GIBSON, FINANCE DIRECTOR
APPLICANT: THE ALTUM GROUP
73-255 EL PASEO, SUITE 15
PALM DESERT, CA 92260
DATE: SEPTEMBER 27, 2012
CONTENTS: NONE
Recommendation
By Minute Motion, that the City Council:
1. Approve the tenant improvements in amount not to exceed $15,000 for Suite
210 at the Parkview Office Complex;
2. Authorize the City Manager to approve all expenditures up to $15,000; and
3. Appropriate $15,000 from Fund 510.
Background
The Altum Group has agreed to lease Suite 210 at the Parkview Office Complex. They have
agreed to a three-year lease with two one-year options to extend the lease. Prior to the tenants
moving into the suite, the City plans to perform the following tenant improvements:
• Paint all walls
• Install two 220-volt receptacles for a copier and a plotter
• Install new cabinets, sink & disposal for employee lounge
• Clean carpets
• Install new signage
• Change all locks
• Service air conditioners
Staff Report
The Altum Group Tenant Improvements
September 27, 2012
Page 2 of 2
Staff recommends approval of securing $15,000 for tenant improvements to lease Suite 210 at
the Parkview Office Complex.
Fiscal Analysis
The anticipated minimum gross rents during the 3-year term of the lease agreement between
the City of Palm Desert and the Altum Group of $93,600 exceed the costs of the $15,000
anticipated expenditures for the tenant improvements.
Submitted By:
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Maul S. Gibson, Director of Finance
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Approval:
Join M. Wohlmuth, City Manager
CITY COUNCIL ACTION
APPROVED ✓ DENIED
RECEIVED OTHER
MEETING DATE—a7-a0
AYES: efl'SDO
NOES: NbOC
ABSENT: _L 6ne—
ABSTAIN: N ZO C-
VERIFIED BY: K f
Original on File with City Cleric's rice