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Title:
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Resolution approving and authorizing the Director of Property, on behalf of the Fleet Management Department (“Central Shops”), to execute a Lease Agreement with Innes Partners, LP, for 1976 Innes Avenue at a base annual rent of $388,000 per year (approximately $18.56 per square foot) with no annual rent increases for a term of five years with two five-year options to extend the term effective upon approval of this Resolution; and authorizing the Director of Property to execute any amendments or modifications to the Lease including exercising options to extend the agreement term, make certain modifications and take certain actions that do not materially increase the obligations or liabilities to the City, do not materially decrease the benefits to the City, and are necessary to effectuate the purposes of the Lease or this Resolution.
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