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Current Council Agenda and Past Meeting Information

 

CITY COUNCIL AGENDA ITEM NO. 16

Meeting Date: February 10, 2004

Subject/Title: Amend the Brentwood Education and Technology Center (BETC) Business
and Technology Incubator Rent Structure

Submitted by: Howard Sword, Economic Development Director

Approved by: John Stevenson, City Manager

RECOMMENDATION
Approve a resolution amending the cost allocation plan to revise the Brentwood Education and Technology Center (BETC) Business and Technology Incubator Rent Structure.

PREVIOUS ACTION
 The City Council on 8/27/02 approved a Resolution accepting the construction of the Brentwood Education and Technology Center (BETC), CIP Project Number 336-3112, located at 101 Sand Creek Road, Suite B, and directed the City Clerk to file a Notice of Completion with the County Recorder.

 Amend the Brentwood Education and Technology Center (BETC) Construction and FF&E Budget and Approve the Technology Incubator Rent Structure.

BACKGROUND
The rent schedule for the Business and Technology Incubator needs to be amended to account for actual operating expenses that have been documented since opening in October 2001. The original intention was to raise the rent by 5% based on the $3.48 charge per square foot area contained in each office. Further research, however, indicated that it would be advisable to adjust the square foot calculation to the standards recommended by BOMA (Building Owners and Managers Association) to include space occupied by wall thickness and a pro rata amount of hallway adjacent to offices. The net increase in chargeable square foot area and a $.02 increase in rental rate to $3.50 per square foot at BOMA standards will be sufficient to cover operating expenses.

FISCAL IMPACT

The rental rate increase will bring the operating expenses of the Business and Technology Incubator into balance.

Attachments:
Resolution
Business and Technology Incubator Rent Schedule

RESOLUTION NO.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRENTWOOD AMENDING THE BRENTWOOD EDUCATION AND TECHNOLOGY CENTER (BETC) BUSINESS AND TECHNOLOGY INCUBATOR RENT STRUCTURE ADOPTED BY RESOLUTION NO.

WHEREAS, The City Council on 8/27/02 approved a Resolution accepting the construction of the Brentwood Education and Technology Center (BETC), CIP Project Number 336-3112, located at 101 Sand Creek Road, Suite B, and directed the City Clerk to file a Notice of Completion with the County Recorder; and

WHEREAS, the City will amend the Brentwood Education and Technology Center (BETC) Construction and FF&E Budget and Approve the Technology Incubator Rent Structure; and

WHEREAS, the rental rate increase will bring the operating expenses of the Business and Technology Incubator into balance.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brentwood, that the Brentwood Education and Technology Center (BETC) Incubator Rent Structure be amended.

PASSED, APPROVED AND ADOPTED by the City Council of the City of Brentwood at a regular meeting on the 10th day of February 2004 by the following vote:

AYES: Councilmembers
NOES:
ABSENT:
____________________________________ Brian Swisher
Mayor

ATTEST:
__________________________
Karen Diaz, CMC
City Clerk

Business and Technology Incubator Rent Schedule
Corrected Rent including BOMA
Original Rent Schedule Rent $3.50 per sq. ft.
Corrected sq. ft. Correct BOMA increase
Suite # Current Sq. ft. Current rent to include BOMA Rent at $3.50 sq. ft. per suite
201 424 $ 1,476.00 450 $1,575.00 $ 99.00
202 417 $ 1,452.00 457 $1,600.00 $ 148.00
203 97 $ 338.00 108 $378.00 $ 40.00
204A 291 $ 1,013.00 322 $1,127.00 $ 114.00
204B 312 $ 1,086.00 340 $1,190.00 $ 104.00
205 97 $ 338.00 107 $375.00 $ 37.00
206 173 $ 603.00 211 $739.00 $ 136.00
207 100 $ 348.00 112 $392.00 $ 44.00
208 100 $ 348.00 110 $385.00 $ 37.00
209A 633 $ 2,203.00 690 $2,415.00 $ 212.00
209B 159 $ 553.00 180 $630.00 $ 77.00
210 100 $ 348.00 114 $399.00 $ 51.00
211 100 $ 348.00 117 $410.00 $ 62.00
212 100 $ 348.00 118 $413.00 $ 65.00
213 100 $ 348.00 116 $406.00 $ 58.00
214A 391 $ 1,361.00 451 $1,579.00 $ 218.00
214B 391 $ 1,361.00 435 $1,523.00 $ 162.00
215 100 $ 348.00 113 $396.00 $ 48.00
216 100 $ 348.00 115 $403.00 $ 55.00
217 104 $ 362.00 123 $431.00 $ 69.00
218 102 $ 355.00 118 $413.00 $ 58.00
219A 398 $ 1,385.00 460 $1,610.00 $ 225.00
219B 377 $ 1,312.00 436 $1,526.00 $ 214.00
220 106 $ 369.00 116 $406.00 $ 37.00
221 108 $ 376.00 121 $424.00 $ 48.00
222 112 $ 390.00 116 $406.00 $ 16.00
223 110 $ 383.00 111 $389.00 $ 6.00
224 424 $ 1,476.00 450 $1,575.00 $ 99.00
301 485 $ 1,688.00 530 $1,855.00 $ 167.00
302 305 $ 1,062.00 332 $1,162.00 $ 100.00
303 211 $ 735.00 252 $882.00 $ 147.00
304 102 $ 355.00 116 $406.00 $ 51.00
305 102 $ 355.00 115 $403.00 $ 48.00
306A 384 $ 1,337.00 423 $1,481.00 $ 144.00
306B 384 $ 1,337.00 441 $1,544.00 $ 207.00
307 102 $ 355.00 119 $417.00 $ 62.00
308 102 $ 355.00 121 $424.00 $ 69.00
309A 402 $ 1,399.00 464 $1,624.00 $ 225.00
309B 402 $ 1,399.00 439 $1,537.00 $ 138.00
312 1009 $ 3,512.00 1118 $3,913.00 $ 401.00
10016 $34,865.00 11187 $39,163.00 $4,298.00
 

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Brentwood, CA 94513
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