Discuss, Consider and take appropriate action on the form Office Lease Agreement between Williamson County, Lessor, and Chinogringo, LLC, as Lessee, relating to the office condo space located at 321 Ed Schmidt Boulevard, Unit #100, Hutto, Texas 78634 to commence upon closing and funding of Williamson County’s purchase of such property.

This Lease is being consummated as a part of a purchase transaction wherein County is purchasing Unit #100 of the Hutto 321 Office Condominiums from Chinogringo, LLC.  The County is leasing Unit #100, which Chinogringo occupied at the time of the purchase transaction, back to Chinogringo for a term of up to 180 days. This lease provides Chinogringo with time to complete its new location and move out. Either party may terminate upon 30 days prior notice. The monthly rental amount will be $4,830.00 (based on $1.15 per sq.ft. - 4,200 sq.ft.). Two local commercial realtors were consulted and gave a range of $1.00 to $1.30 per sq. ft. for rental of offices similar to the office condo unit. A mid-range price was used to determine rental.