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Title:
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Resolution approving and authorizing the Director of Property to enter into a real property lease with Felton Institute, a California nonprofit public benefit corporation, for approximately 1,506 square feet of The Village Community Facility located at 1099 Sunnydale Avenue, for an initial term of five years with two five-year options to extend, at an initial rent of $24,216.48 per year ($2,018.04 per month) with 3% annual increases thereafter effective upon approval of this Resolution; a finding that competitive bidding procedures required under Administrative Code, Chapter 23, Section 23.33, are impractical or impossible; a finding that the Lease furthers a proper public purpose sufficient to meet Administrative Code, Section 23.30, market value requirements; and authorizing the Director of Property to enter into any additions, amendments, or other modifications to the Lease that do not materially increase the obligations or liabilities of the City to effectuate the purposes of this Resolution.
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