Description
Title: Authorize negotiation and execution of an amendment to the lease agreement on behalf of Austin Facilities Management to extend the lease with Durbin Bennett Private Wealth Management, LLC, a Texas limited liability company d/b/a Maslow Wealth Advisors (Maslow Wealth), for 5,639 square feet of office space in the City’s Two Barton Skyway Building located at 1601 South MoPac Expressway, Suite 125D, Austin, Texas 78746, part of two administrative office buildings to serve as a new Public Safety Headquarters for Austin Fire, Austin Police, and Austin-Travis County Emergency Medical Services, that
Summary
The City of Austin is considering a proposed lease amendment for approximately 5,639 square feet of office space located at 1601 S. Mopac, Suite 125D, to accommodate a new Public Safety Headquarters for the Austin Fire, Police, and Emergency Medical Services. This amendment seeks to shorten the existing lease expiration date from January 31, 2027, to August 31, 2026, allowing for earlier occupancy and reducing the need for extensive renovations, thereby mitigating potential cost increases due to inflation and supply chain issues. The amendment will result in a projected revenue reduction of $20,433 for Fiscal Year 2025-2026 and $81,731 for 2026-2027, but is deemed beneficial as it