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COUNTY OF HAWAI`I <br />STATE OF HAWAPI <br />RESOLUTION NO. 243 25 <br />A RESOLUTION AUTHORIZING THE PAYMENT OF FUNDS OF LATER FISCAL <br />YEARS FOR AN EXTENSION OF A MULTI -YEAR LEASE AGREEMENT FOR REAL <br />PROPERTY TO BE USED BY THE HAWAI`I POLICE DEPARTMENT. <br />WHEREAS, Section 10-11 of the Charter of the County of Hawaii (hereinafter "the <br />Charter") provides, in part, that "any contract, lease, or other obligation requiring the payment of <br />funds from the appropriations of a later fiscal year or of more than one fiscal year shall be made <br />or approved by resolution"; and <br />WHEREAS, the Hawaii Police Department (hereinafter "the Department") currently <br />leases approximately 12,000 square feet of commercial warehouse space for storage from Geo <br />Investment Company, Inc. (hereinafter "the Lessor"), situated in Kea`au, County and State of <br />Hawaii; and <br />WHEREAS, the Lessor and the Department executed a first amended lease, entered into <br />on June 29, 2012; a second amended lease entered into on June 25, 2013; a third amended lease <br />entered into on June 26, 2015; a fourth amended lease, entered into on June 25, 2015; a fifth <br />amended lease entered into on June 28, 2016; a sixth amended lease entered into on June 29, 2017; <br />and a seventh amended lease entered into on May 25, 2021; and <br />WHEREAS, the seventh amended lease expired on June 30, 2025; and <br />WHEREAS, the Department continues to need this commercial warehouse space for <br />storage from Lessor for an additional five (5) year period commencing on July 1, 2025, through <br />and ending June 30, 2030; and with an option to extend another five (5) years, if needed; and <br />WHEREAS, the Department estimates the monthly rent of this lease extension to be <br />$8,520.00, with a 7% increase in rent per year, to June 30, 2030; now, therefore, <br />BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI`I that the <br />Mayor is hereby authorized to enter into a multi -year lease extension with the Lessor, for an <br />additional five (5) year period commencing on July 1, 2025, through and ending June 30, 2030, <br />