Item 20 - Lease Amendment for Summit Lab — original pdf

Backup

Item 20 Water & Wastewater Commission: November 10, 2026 Council: November 19, 2026 Posting Language ..Title Recommend approval to authorize negotiation and execution of an amendment to the lease agreement with Pre Summit LLC, a Texas limited liability company, on behalf of Austin Water, for approximately 8,850 square feet of office and laboratory space, located at 14050 Summit Drive, Suite 121, Austin, Texas 78728, for a term of four months, for a total amount not to exceed $101,570. Funding: $101,570 is available in the Fiscal Year 2026-2027 Operating Budget of Austin Water. ..De Lead Department Austin Financial Services. Fiscal Note Funding in the amount of $101,570 is available in the Fiscal Year 2026-2027 Operating Budget of Austin Water. Prior Council Action: May 22, 2025 – Council approved an 18-month lease renewal with Pre Summit, LLC, for the Laboratory Services Division of Austin Water. August 20, 2015 - Council approved a 120-month lease renewal with BT1 Austin, LLC, for the Laboratory Services Division of Austin Water. January 31, 2008 - Council approved a 60-month lease renewal with Equastone Austin I, LP, for the Laboratory Services Division of Austin Water. August 1, 2002 - Council approved an 84-month lease with Lend Lease Real Estate Investments, Inc., for the Laboratory Services Division of Austin Water. Council Committee, Boards and Commission Action: November 10, 2026 – To be reviewed by the Water and Wastewater Commission. Additional Backup Information: The proposed lease amendment is for approximately 8,850 square feet serving as a water quality testing laboratory, located at 14050 Summit Drive, Suite 121, Austin, Texas 78728. Austin Water has occupied this space since May 2003. The current lease agreement expires November 30, 2026, and Austin Water needs additional time at this location to continue conducting water quality testing before moving to the new City- owned facility at 712 Huntland Drive. The proposed base rent reflects the renegotiated holdover rate under the current lease of 150% for the first two months and 125% for the next two months. The current operating expenses are estimated at $5,882 per month.  Item 20 Water & Wastewater Commission: November 10, 2026 Council: November 19, 2026 The following table summarizes the base rent and operating expenses. Term Estimated Monthly Operating Expense Monthly Base Rent Total Monthly Rent 12/01/2026 – 12/31/2026 01/01/2027 – 01/31/2027 02/01/2027 – 02/28/2027 03/01/2027 – 03/31/2027 $21,284 $21,284 $17,737 $17,737 $5,882 $5,882 $5,882 $5,882 $27,166 $27,166 $23,619 $23,619 Total (4 Months): $101,570 The Strategic Facilities Governance Team has reviewed and approved the proposed lease amendment. ORCHIDLNWHOWARDLNIDARIDGEDRSUMMITDRSUMMITDRWWELLSBRANCHPKWYWWELLSBRANCHPKWYLease Renewal at Summit Park Lab - 14050 Summit Dr, Suite 121, Austin, TX 78728±0250500750FeetThis product is for informational purposesand may not have been prepared for orbe suitable for legal, engineering, or surveyingpurposes. It does not represent anon-the-ground survey and represents only theapproximate relative location of property boundaries.This product has been produced by the FinancialServices Department for the sole purpose ofgeographic reference. No warranty is made by theCity of Austin regarding specific accuracy orcompleteness.Produced by Robert Starke - 2/18/2025Nearmap US Vertical Imagery by ESRI05,00010,00015,000Feet±City Council DistrictsLease Renewal at Summit Park Lab - 14050 Summit Dr. Ste. 121AUSTIN 2-mile ETJCOUNCIL DISTRICT 7AUSTIN 2-mile ETJLease Renewal at Summit Park Lab - 8,850 Sq. Ft.COUNCIL DISTRICT 7Council Meeting: November 19, 2026 File ID: 26-3037Page 1 of 1