During a recent government meeting, officials discussed the lease agreement for Rathrum Law, which has been a topic of scrutiny regarding its pricing and terms. The current lease, which was previously set at $550 per month, is set to increase to approximately $800 when utilities are factored in. This adjustment has raised concerns about fairness and transparency, particularly given the long-standing presence of the tenant in the community.
One official emphasized the importance of ensuring that the city charges a competitive yet fair rate, noting that the average rental price for similar office spaces is around $1.27 per square foot, while Rathrum Law's new rate would be approximately $1.57 per square foot. The discussion highlighted the complexities involved in comparing rental properties, as factors such as shared facilities and utility inclusions can significantly affect overall costs.
Concerns were also raised about the lack of a comprehensive list of comparable properties used for evaluating the lease terms. One member expressed a desire for more transparency, suggesting that without proper documentation, it is difficult to ascertain whether the proposed lease is indeed a good deal for the city.
Ultimately, the council voted to authorize the mayor to sign the new lease agreement for Rathrum Law, with the motion passing by a vote of 9 to 1. The lease will be retroactive to July 1, reflecting the ongoing negotiations and the tenant's good faith payment made in anticipation of the new terms.