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File #: 220533    Version: Name: Real Property Lease Extension - 120-14th Street LLC - 1740 Folsom Street - $1,030,400 Annual Base Rent
Type: Resolution Status: New Business
Introduced: 5/17/2022 In control: Budget and Finance Committee
On agenda: 5/17/2022 Final action:
Enactment date: Enactment #:
Title: Resolution approving and authorizing the Director of Property, on behalf of the Sheriff’s Department, to extend the Lease of 18,862 square feet located at 1740 Folsom Street with 120 14th Street LLC for an additional five years, at a base rent of $1,030,400 in the initial year, with 3% annual adjustments, commencing on approval of this Resolution; and approving and authorizing a five-year lease extension beginning July 1, 2022, with a total term of July 1, 2002, through June 30, 2027, at the City’s option; authorizing the Director of Property to execute documents, make certain modifications and take certain actions in furtherance of the Lease and this Resolution, as defined herein; and to authorize the Director of Property to enter into amendments or modifications to the Lease that do not increase the rent or otherwise materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the Lease or this Resolution.
Attachments: 1. Leg Ver1, 2. Amended and Restated Lease Agmt 042622, 3. ADM Ltr 032522, 4. ADM Ltr 050922, 5. Form 126, 6. BLA Rpt 091422, 7. Cmte Pkt 091422, 8. BLA Rpt 092822, 9. Cmte Pkt 092822, 10. RED Presentation 092822
Related files: 120038, 170064
Legislation Details
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