Department
Real Estate and Asset Management
Requested Action
title
Request approval of a Resolution authorizing a Master Lease Agreement between Fulton County, Georgia (Lessor) and MicroLife Institute, Inc. (Lessee) for County-owned real estate located at 4807 Cochran Road, Union City, Georgia, for the development of a community of cottage homes thereon; authorizing the Chairman to execute the Master Lease Agreement and related documents; authorizing the County Attorney to approve the Master Lease Agreement and related documents as to form and to make modifications thereto prior to execution. Effective upon BOC approval. (APPROVED UPON ADOPTION OF THE CONSENT AGENDA)
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Requirement for Board Action
Pursuant to Fulton County Code § 1-117, the Board of Commissioners has exclusive jurisdiction and control over directing and controlling all the property of the county, as they may deem expedient, according to law.
Strategic Priority Area related to this item)
Open and Responsible Government
Commission Districts Affected
All Districts ☐
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☒
District 6 ☐
Is this a purchasing item?
No
Summary & Background Fulton County previously entered into an Amended and Restated Contract Agreement with MicroLife Institute, Inc. (“MicroLife”) for the development of a community of cottage homes in order to increase the supply of affordable housing within Fulton County. The Amended and Restated Contract Agreement requires the parties to execute a Master Lease Agreement pursuant to which Fulton County will lease 2.16+/- acres of County-owned real property located at 4807 Cochran Road, Union City, Georgia to MicroLife, and upon which MicroLife will develop the cottage home community.
Fulton County and MicroLife have negotiated mutually acceptable terms for the Master Lease Agreement, with an initial term of three years and additional renewal options available upon request.
MicroLife, the Fulton County Department of Real Estate and Asset Management (“DREAM”), and the Fulton County Department of Housing and Community Development are requesting the Fulton County Board of Commissioners (“BOC”) approve the execution of this Master Lease Agreement in accordance with the terms of 22RFP1011K-DB Program Management Services, for the Affordable Tiny Homes, approved as Agenda Item 23-0289 by the BOC on April 19, 2023, and as amended and restated per Agenda Item 24-0834, approved by the BOC on December 4, 2024 for development and other services.
Community Impact: The Fulton County Department of Housing and Community Development’s objective for the approval of the Master Lease Agreement is to increase the availability of affordable housing in Fulton County. The cottage homes constructed by MicroLife will be made available for purchase to buyers that meet predetermined economic criteria.
Department Recommendation: DREAM and the Fulton County Department of Housing and Community Development recommend approval of the Master Lease Agreement with MicroLife to facilitate the development of the 2.16+/- acre tract of County-owned real property located at 4807 Cochran Road, Union City, Georgia for affordable housing.
Project Implications: Potential homeowners will have another option to consider when purchasing a home in Fulton County, Georgia.
Community Issues/Concerns: None
Department Issues/Concerns: None
Fiscal Impact / Funding Source
Approval of the Master Lease Agreement does not require the payment or receipt of funds.