Mississippi Administrative Code › Title 12 - Finance and Administration › Part 8 - Real Property Management Leasing Manual › Sec2 12-8-300 - SOURCE SELECTION AND CONTRACT FORMATION › Section 12-8-300.1 - DEFINITION OF TERMS USED IN THIS SECTION

Current through June 25, 2024
(1)
Award
- acceptance by an agency or department of a proposal
				submitted by a Lessor with the intention of entering into a Lease Contract.
(2)
BOMA
- Building
				Owners and Managers Association
(3)
Building Amenity Area
-
				conference rooms, break rooms and similar spaces that are available for use by
				all tenants of a multi-tenant building at no additional cost or with SF rental
				cost prorated among all tenant spaces.
(4)
Building Service Area
-
				building lobby, public corridors, and public restrooms in multi-tenant
				buildings as well as janitors' closets, mechanical, electrical and
				communications rooms and closets, loading docks, shipping and receiving areas,
				building management and maintenance areas in all buildings.
(5)
Demising Wall
- a partition
				or wall separating one tenant's leased space from that of another tenant.
(6)
Graduated Rental
				Rate
- rental payments that begin at a low fixed rate per square foot
				and increase at set intervals over the Lease term.
(7)
Lease
- a contract by which
				one party conveys real property to another for a specified period of time and
				under specific conditions.
(8)
Lessee
- the individual or entity to whom property is rented or
				leased; tenant
(9)
Lessor
				-
the individual or entity who rents or leases property to another;
				landlord
(10)
Market Rate
				Survey -
up to date information collected and analyzed by a Mississippi
				Licensed Realtor on available or leased real property in a given area for the
				purpose of establishing fair market value.
(11)
Major Vertical Penetration
				-
elevators, stairwells, mechanical chases and similar spaces.
(12)
Occupant Area -
the actual square footage of a building that is useable exclusively by the
				tenant, and excludes Building Service Areas and Major Vertical Penetrations.
(13)
Rentable Area -
in a single-tenant building, is equal to the Occupant Area. For multi-tenant
				buildings, is equal to the Occupant Area plus the pro-rated portion of Building
				Amenity Areas attributable to the Occupant Area. In no case are Building
				Service Areas to be included in Rentable Area.
(14)
Request for Lease Proposals
				(RLP)
- all documents, whether attached or incorporated by reference,
				utilized for soliciting proposals.
(15)
Responsible Offeror
- a
				person or entity who has the capability in all respects to perform fully the
				contract requirements and the integrity and reliability which will assure good
				faith performance.
(16)
Responsive Offeror
- a person or entity who has submitted a bid or
				proposal which conforms in all material respects to the RLP.
(17)
Succeeding Lease
- a
				non-competitive lease acquisition secured to provide for continued occupancy of
				the current premises at the end of a lease and all contractually permitted
				renewals.
(18)
Tenant
				Improvements
- fixed improvements or modifications to a building prior
				to start of tenancy.
(19)
Tenancy
- the occupation or holding of land or other real
				property.
(20)
Usable
				Area
- the Occupant Area plus the Building Amenity Area.