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• <br />Term of Lease <br />10/1/02 to 9/30/03 <br />10/1/03 to 9/30/04 <br />10/1/04 to 9/30/05 <br />10/1/05 to 9/30/06 <br />Monthly Rent <br />$2,036.46 <br />$2,036.46 <br />$2,096.35 <br />$2,156.25 <br />Annual Rent <br />$24,437.50 <br />$24,437.50 <br />$25,156.25 <br />$25,875.00 <br />Percentage Increase Over <br />Prior Year <br />3% <br />0% <br />2.9°A <br />2.9% <br />The resulting percentage over the four yearprojected lease would be 5.6% or approximately 1.4% <br />average per annum. Considering the rates previously charged, the proposed increase is seen as fair and <br />reasonable and consistent with current market conditions. <br />Since the original lease was executed, the corporate name of FNB Properties, Inc , has changed to Greene <br />Investment Partnership, Ltd. <br />RE COMMENDATION: <br />Staff recommends that the Board accept the renewal rates <br />execute an agreement in a foul' acceptable to the County <br />corporate ownership. <br />as proposed and authorize the Chairman to <br />Attorney based on the name change of' the <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Ginn, the Board unanimously accepted the <br />renewal rates as proposed and authorized the Chairman to <br />execute an agreement with Greene Investment Partnership, Ltd., <br />in a form acceptable to the County Attorney based on the name <br />change of the corporate ownership, as recommended in the <br />memorandum. <br />RENEWAL OF LEASE AGREEMENT IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />11.C.2. HEALTH DEPARTMENT DENTAL ADDITION - BARTH <br />CONSTRUCTION, INC. - FINAL PAYMENT AND RELEASE OF <br />RETAINAGE <br />The Board reviewed a Memorandum of September 10, 2002: <br />September 17, 2002 <br />73 <br />• <br />