Authorize negotiation and execution of an amendment to the lease agreement with Fifth Lane Capital, LP, a Delaware limited partnership, for 1,024 square feet of office space in the City’s University Park Building, the administrative office building to serve as a new colocation facility for Austin Capital Delivery Services and other departments, located at 3300 North Interstate Highway 35, Suite 380, Austin, Texas 78705, that will establish an earlier lease expiration date of April 1, 2026. Funding: This item is projected to reduce revenue by $25,032 in the Fiscal Year 2025-2026 and $12,516 in the Fiscal Year 2026-2027 of the Operating Budget of Austin Facilities Management.

The Council is being asked to amend the City's lease with Fifth Lane Capital for 1,024 square feet of office space in the University Park Building on North I-35, moving up the lease expiration to April 1, 2026. The space had served as a colocation spot for Austin Capital Delivery Services and other departments, and ending the lease early reshuffles how those teams are housed. Wrapping things up sooner is projected to trim Austin Facilities Management revenue by $25,032 in FY2025-2026 and $12,516 in FY2026-2027.

budget

The roll call

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