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TO: Mayor Richard C. Irvin
FROM: Trevor Dick, Director of Development Strategy and Facilitation
DATE: September 4, 2020
SUBJECT:
A Resolution Authorizing the Approval and Execution of a Lease Agreement between the City of Aurora and F.H. Paschen for the Lease of Office Space on the Second Floor of a City-owned Building located at 1 South Broadway, Aurora, Illinois 60505.
PURPOSE:
The purpose of the request is to fill a currently partially vacant building owned by the City of Aurora. The F.H. Paschen has found the size of the building's second floor a fitting location for their new west suburban corporate office.
BACKGROUND:
F.H. Paschen has more than three decades working in construction, it is an industry leader in infrastructure construction and rehabilitation, renovation and repair work, as well as in alternative delivery methods such as Design-Build Construction, Job Order Contracting and Construction Manager as Contractor. F.H. Paschen serves both the public and private sectors with more than twenty LEED Accredited professionals on staff, providing extensive construction experience in heavy civil transportation (including major highways, bridges, and mass transit systems), public works projects, municipal buildings, commercial properties, and private institutions.
Over the years the City has established a good working relationship and has had very good previous experiences with F.H. Paschen, where they completed projects as scheduled and on budget. (ie. The lower level of DSC, Elmslie/Hogan building repairs and the Route 59 Transit Center Staircase Replacement are just a few).
DISCUSSION:
The proposed lease has an initial term of one year and affords F.H. Paschen the option to extend the lease at the end of the lease term. During the initial lease period, F.H. Paschen will pay the City $29,400 in annual rent or $2,450 per month.
IMPACT STATEMENT:
Approval of this resolution will provide a modest source of revenue and have the ancillary benefit o...
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