Subject:
Title
Lease Agreement with Epsilon Systems Solution, Inc. for leased space at the Young-Rainey STAR Center.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of an eighteen (18) month Lease Agreement (Agreement) with Epsilon Systems Solution, Inc. (Epsilon) at the Young-Rainey STAR Center (STAR Center), located at 7887 Bryan Dairy Road, Largo.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.1 Proactively attract and retain businesses with targeted jobs to the county and the region
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
5.2 Be responsible stewards of the public’s resources
Summary:
The purpose of this action is to establish a lease with Epsilon for 3,296 rentable square feet of administrative space at the STAR Center. The initial term of the lease is eighteen (18) months.
Background/Explanation:
Epsilon is a professional and technical services company. Epsilon primarily serves the Federal Government including Department of Defense, Homeland Security, and the Departments of Energy, Labor and Treasury. Epsilon provides total life cycle support to defense systems, such as basic research, concept development, system architecture, requirements definition and analysis, software development, integration and test, operational support, training, maintenance and logistics.
Fiscal Impact:
The rental rate for the initial term of 18 months shall be $4,207.89 per month plus sales tax. The STAR Center shall reimburse no more than $17,556.00 towards tenant improvements to reconfigure the existing space. The tenant is responsible for telecommunication installation and service. The monthly rental rate shall include fixed utilities and plan maintenance fees (subject to adjustments).
The rental rate for the first renewal option of 18 months shall be $7,485.68 per month plus sales tax. This incorporates the expansion to 5,852 square feet of space.
This agreement is not included in the FY19 Proposed Budget for the STAR Center Fund and will not negatively impact the STAR Center sale process.
Delegated Authority:
Authority for the County Administrator to sign this Lease Agreement is granted under Code Section 2-62(a)(5).
Staff Member Responsible:
Andrew W. Pupke, Director, Real Estate Management
Mike Meidel, Director, Economic Development
Partners:
Economic Development Authority
Attachments:
Lease Agreement