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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 Twin Peaks Petroleum, Inc., a California corporation, doing business as Twin Peaks Auto Care, successor-in-interest to Michael Gharib, for approximately 14,499 square feet located at 598 Portola Drive, for an initial term of twenty years with one ten-year option to extend, at an initial base rent of $156,600 with annual adjustments of three percent thereafter, effective upon approval of this Resolution by the Board of Supervisors and Mayor, and full execution of the Lease; requiring Tenant to complete certain improvements by December 31, 2025, with a waiver of rent up to three months; approving a finding that competitive bidding procedures required under San Francisco Administrative Code, Chapter 23, Section 23.33, are impractical; approving a finding that the Premises is exempt surplus land under California Code, Section 54421(f)(1)(B); and authorizing the Director of Property to enter into amendments or modifications to the lease that do not materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the lease or this Resolution.
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