The Gerald P. Cosgrove Public Works Center does not have sufficient office, parking, or yard space to support the current number of staff and visitors to the facility. The hiring of open positions has been placed on hold pending the availability of office and parking space. Department staff are currently reviewing qualifications for firms to perform a long-term Public Works Facility Masterplan that will evaluate both current and future staffing needs. In the interim, the department needs to acquire more space to support current operations. This lease agreement will provide office space for construction inspectors, engineers and other staff that form the Public Works Community Investment Program team until the renovation and expansion of the Gerald P. Cosgrove Public Works Service Center is completed.
The lease space is approximately one mile, or a five-minute drive, from the main offices of Public Works and is well located for the mission of the Public Work staff to develop, supervise and inspect Public Works projects on City streets, alleys and sidewalks in the coming years.
The term of this agreement is for five years at the following amounts per lease year that include base rent and the maximum proportional share of operating expenses and taxes based on the footprint of space to be leased by the City of Plano:
July 1, 2023 – June 30, 2024 $143,065.20 Annual or $11,922.10 Monthly
July 1, 2024 – June 30, 2026 $148,787.81 Annual or $12,398.98 Monthly
July 1, 2026 – June 30, 2027 $154,739.32 Annual or $12,894.94 Monthly
July 1, 2027 – June 30, 2028 $160,928.89 Annual or $13,410.74 Monthly
In addition, this lease agreement also includes a one-time contribution in an amount up to $135,000 towards the construction and finish out of the leased space in the first year of lease to make it suitable for occupancy by Public Works staff. Further expenditures for furniture, fiber connectivity, equipment and access control outside of this agreement will also be necessary for bringing this lease space online. Those costs are not included in this item. The lease agreement provides for two (2) one (1) year extension options based on future market rental rates, which will not be approved by this item.
This item was prepared in cooperation with the Plano Public Works Department.