Historical Resolution Tracking Feature » Singapore Office Lease Renewal
Important note: The explanatory text provided through this database (including the summary, implementation actions, identification of related resolutions, and additional information) is an interpretation or an explanation that has no official authority and does not represent the purpose behind the Board actions, nor does any explanations or interpretations modify or override the Resolutions themselves. Resolutions can only be modified through further act of the ICANN Board.
Singapore Office Lease Renewal
Whereas, ICANN has maintained a Regional Office in Singapore, since 2013.
Whereas, the lease for the current ICANN Regional Office space in Singapore expires in 2018.
Whereas, ICANN organization has evaluated the options to renew the existing lease, or to move to another suitable location.
Whereas, ICANN org has recommended that the Board authorize the President and CEO, or his designee(s), to take all actions necessary to execute the lease renewal for the current office facility in Singapore, as reflected in the Reference Materials, and make all necessary disbursements pursuant to that lease.
Whereas, during its meeting on 24 January 2018, the Board Finance Committee (BFC) reviewed the financial implications of the options evaluated for the ICANN Regional Office in Singapore.
Whereas, the BFC has determined that the proposal for renewing the lease of the existing Singapore Regional Office is reasonable and properly reflected in the draft FY19 Operating Plan and Budget.
Resolved (2018.02.04.04), the Board authorizes the President and CEO, or his designee(s), the take all necessary actions to execute the lease renewal for the current office facility in Singapore, as reflected in the Reference Materials, and make all necessary disbursements pursuant to that lease.
To support its globalization strategy, ICANN established a Regional Office in Singapore to better service its stakeholders. To further show ICANN's commitment to its globalization strategy, and meet the demand for increased space to accommodate the projected growth of ICANN organization in Singapore, a three-year lease beginning October 2015 with South Beach Tower was signed. The Singapore Regional Office was moved from a serviced office to a more permanent facility. The current lease expires on 30 September 2018, and ICANN org and the Board Finance Committee (BFC) propose that the lease be renewed for an additional three years.
ICANN org has conducted a market review and performed a cost analysis of renewing the lease versus relocating to another location, and finds lease renewal to be a more viable and cost-effective solution.
The Board reviewed ICANN org's and the Board Finance Committee's recommendations for renewing the current lease for an additional three years and the determination that the proposal met the financial and business requirements of the organization.
Taking this decision is both consistent with ICANN's Mission and in the public interest as having a Regional Office in the Asia Pacific region helps serve ICANN's stakeholders in a more efficient and effective manner.
There will be a financial impact on ICANN to renew the current lease for an addition three years. This impact is currently included in the FY19 Draft Operating Plan and Budget that is pending Board approval.
This decision will have no direct impact on the security or the stability of the domain name system.
This is an Organizational Administrative Function that does not require public comment.