City of Mesa - File #: 12-0421

• File #: 12-0421
• Type: Contract
• Status: Agenda Ready
• In control: City Council
• On agenda: 5/21/2012
• Title: Reuse of 51 East Main Street for Benedictine University (District 4) The Economic Development Department has negotiated a lease agreement with Benedictine University to use 51 East Main Street as a recruitment space. The lease will be for 24 months and includes three optional one-year renewals, for a total of up to five years. The recommended total amount for this Guaranteed Maximum Price package is $495,795.30, based on the Construction Manager at Risk proposal of $450,723.00 plus an additional $45,072.30 (10% contingency allowance for change orders). This project is funded by the Economic Investment Fund (included in the City’s Enterprise Fund). Benedictine University will reimburse the City $45,533.00 per the proposed lease agreement.
• Strategic initiatives: Community Engagement, Economic Development, Financial Stability, Quality of Life, Regional Leadership

Title

Reuse of 51 East Main Street for Benedictine University (District 4)

The Economic Development Department has negotiated a lease agreement with Benedictine University to use 51 East Main Street as a recruitment space.  The lease will be for 24 months and includes three optional one-year renewals, for a total of up to five years.

The recommended total amount for this Guaranteed Maximum Price package is $495,795.30, based on the Construction Manager at Risk proposal of $450,723.00 plus an additional $45,072.30 (10% contingency allowance for change orders).  This project is funded by the Economic Investment Fund (included in the City's Enterprise Fund). Benedictine University will reimburse the City $45,533.00 per the proposed lease agreement.