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Title:
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Resolution approving Port Commission Lease No. L-17432 with NorCal Rental Group, LLC, a limited liability corporation, for approximately 44,750 square feet of paved land at Pier 96 for the storage and parking of construction related vehicles and equipment, the term is effective upon approval of this Resolution and completion of Port’s Pier 96 Gatehouse Project, with an initial lease term of five years with two options to extend the term for a total of five additional years, at a monthly base rent of $31,772.50, subject to annual three percent increases for both the initial and extended terms, and with a total base rent of $4,321,110 over the full extended term.
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