By Nick Nunn
During a special called meeting of the Morgan County Building Authority on July 16, the Building Authority – the county commission – approved a lease with Brand-Vaughan Lumber Co., Inc. as well as a contract for the payment of brokerage fees to Joseph Terrell Interests, Inc., DBA Highgate Partners by Morgan County.
The lease states that Brand-Vaughan will pay the Morgan County Building Authority a rate of $2.50 per square foot for the use of 48,500 square feet of the Morgan County Public Safety Complex, which includes parking and loading areas, totaling $10,105 per month.
Additionally, Brand-Vaughan will pay $0.40 per square foot per year – approximately $1,620 per month – in exchange for the building authority paying for utilities and performing improvements.
The current length of the contract runs from August 2013 through the end of June 2018.
Additionally, the building authority agreed to make several improvements on the property at its sole cost. Among these improvements are: creating a drive-in ramp with hand and safety railings for one dock “hi door,” enlarging one dock “hi door” to 18 feet wide and 14 feet high while installing a roll-up door and constructing fencing around the proposed outside storage area in the lower surface lot.
The building authority also agreed to the brokerage fees as set forth in the commission agreement with Joseph Terrell Interests, which states that the building authority shall pay commissions equal to the first full month’s rental – $10,105 – and 3 percent of the entire term of the lease contract, which is approximately $18,000.
During the meeting, the building authority voted into the minutes the contract it had previously signed with Kevin Price General Contractors in the amount of almost $1,026,000 for designing and building the new headquarters of the Morgan County Fire Department and Emergency Medical Services at the Public Safety Complex.
Agreement with Brand-Vaughan Lumber Company
48,500 square feet
Public Safety Complex
Total of $10,105 per month
Aug. 2013-June 2018