Wednesday, November 11, 2009

Hudson Library Board Approves Lease Agreement

Link to November 10 Hudson Star-Observer article, "Library Board agrees to lease space in the NMC building". (You may need to register for free account to access article.)

Excerpt: The Hudson Area Joint Library Board voted 6 to 1 Monday night to lease 20,000 square feet of floor space in the Nuclear Management Co. building to serve as the new home for the library.

The decision clears the way for the city of Hudson to buy the now-vacant corporate headquarters property on Vine Street between First and Second streets.

The City Council on Oct. 19 approved an agreement to purchase the property, but the $2.5 million deal was contingent upon the library agreeing to move into the NMC building. The city has until Dec. 16 to opt out of the purchase agreement without losing $100,000 in earnest money that it put down.

The library will pay a beginning rent of $120,000 a year (or $6 per square foot of floor space) under the five-year lease approved by the board.

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