University Medical Center of Southern Nevada
Board of Hospital Trustees
AGENDA ITEM
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Petitioner: |
Mason Van Houweling, Chief Executive Officer |
Recommendation:
title
Approve and authorize the Chief Executive Officer to sign the Second Amendment to the Lease Agreement with Schnitzer Valley View, LLC for rentable warehouse space; or take other action as appropriate. (For possible action)
body
FISCAL IMPACT:
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Fund #: |
5420.000 |
Fund Name: |
N/A |
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Fund Center: |
7050 |
Funded PGM/Grant: |
N/A |
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Amount: |
Amendment 2 - additional NTE $770,818.61; cumulative total funding of $1,156,438.61 |
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Description: |
Lease of offsite storage space |
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Additional Comments: |
Term: Amendment 2 - extend for three (3) year from 04/1/2022 to 07/31/2025 |
BACKGROUND:
On September 1, 2020 the Board of Trustees approved the ratification of an emergency Lease Agreement for approximately 20,000 square feet of storage space from HIP Valley View, LLC, now known as Schnitzer Valley View, LLC. The total base rent due under the lease ($13,000/month) along with tenant’s share of operating expenses (taxes, insurance, common area maintenance) will not exceed $192,000.00 for the term, August 1, 2020 through July 31, 2021. Amendment One extended the term through July 31, 2022 with additional funding of $193,620.
This request is for a three (3) year extension of the Agreement term through July 31, 2025 and sets the monthly Base Rent and tenant’s share of operating expenses. The lease of this space is used to support hospital’s PPE storage needs.
UMC’s Chief Operating Officer has reviewed and recommends approval of this Amendment. This Amendment has been approved as to form by UMC’s Office of General Counsel.
This Amendment was reviewed by the Governing Board at their April 27, 2022 meeting and recommended for approval by the Board of Hospital Trustees.