Memo for Calendar: 7 WTC lease authorization

NYC 9/11 Public Portal Document

DEPARTMENT OF CIT YWIDE ADMINISTRATIVE SERVICES DIVISION OF REAL ESTATE SERVICES BUREAU OF LEASING AND SPACE DESIGN MUNICIPAL BUILDING, 20th Floor - Room 2000N NEW YORK, N.Y. 10007 (212) 669-2620

WILLIAM J. DIAMOND LORI FIERSTEIN JEFFREY R. KONDRAT Commissioner Deputy Commissioner Assistant Commissioner

MEMO FOR CALENDAR

Record No Calendar No

PUBLIC HEARING pursuant to the provisions of Section 824 of the New York City Charter, as submitted by the Department of Citywide Administrative Services, Division of Real Estate Services, hereby authorizes a lease for the City of New York, as tenant, of approximately 50,065 rentable square feet of space on entire 23"^^ floor and part of the 7* floor, of a building located at 7 World Trade Center (Block 84 & Lot 36) in the Borough of Manhattan for the Mayor’s Office of Emergency Management to use as a office , or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.

The proposed use was approved by the City Planning Commission pursuant to NYC Charter Section 195c on December 3, 1997 (CPC Appl. No. N980149PXM, Public Hearing Cal. No. 21).

The proposed lease shall be for a period commencing upon the Date of Execution of the lease and expiring January 31, 2018 at annual rent of $1,401,820.00 ($28.00 per square foot) from January 1, 1999 (subject to Substantial Completion, as further defined in the lease) for five (5) years, $1,752,275.00 ($35.00 per square foot) for the next five (5) years, $1,852,405.00 ($37.00 per square foot) for the following five (5) years, and $2,102,730.00 (42.00 per square foot) for the remaining term, payable in equal monthly installments at the end of each month.

The lease may be terminated by the Tenant at the end of tenth (10th) year, or at any time thereafter, provided the Tenant gives the Landlord eighteen (18) months prior written notice. In the event that the lease is terminated by the Tenant, the Tenant shall pay to the Landlord the unamortized portion of the brokerage commission paid by Landlord pursuant to this lease.

The Landlord shall prepare architectural plans and engineering plans and make alterations and improvements. The total cost of Tenant’s Initial Work shall not exceed $14,287,986.00. The Landlord shall contribute $1,661,843.00 toward the cost and any balance up to a maximum of $12,626,143.00 will be paid by the Tenant. The Tenant shall reimburse the Landlord for Tenant’s share of the costs, to be disbursed as outlined in the lease. Landlord shall supply architectural, engineering and consultant services at its sole cost and expense.

The Landlord shall provide heat, air-conditioning chilled water, hot and cold water and elevator services during normal business hours 8;00 a.m. to 6:00 p.m. on Monday through Friday inclusive, holidays excepted, and access and elevator (passenger and freight) service twenty-four (24) hours per day, seven (7) days per week. The Landlord shall provide cleaning and rubbish removal services. Tenant shall reimburse Landlord for the reasonable cost of after-hours freight elevator service, supplemental and after hours chilled water, and supplemental cleaning services.

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