File #: 230915    Version: 1 Name: Amended and Restated Office Lease - Retroactive - The Lighthouse Building LLC - 1155 Market - Not to Exceed $6,685,260.20 in Initial Year
Type: Resolution Status: Failed
Introduced: 9/5/2023 In control: Budget and Finance Committee
On agenda: 9/5/2023 Final action: 9/26/2023
Enactment date: Enactment #:
Title: Resolution retroactively approving and authorizing the Director of Property to amend and restate the current lease with The Lighthouse Building LLC, as Landlord, for the City’s lease of approximately 103,487 square feet of rentable square feet comprised of floors one through eight at 1155 Market Street for use by approximately nine City Departments, to enter into an amended and restated office lease for a lease term of five years, commencing February 1, 2023, through January 31, 2028, with one five-year option to extend to January 31, 2033, at an initial annual rent of $6,685,260.20 (or $557,105.02 per month) with 3% annual increases thereafter for the remainder of the initial term; and authorizing the Director of Property to enter into any additions, amendments, or other modifications to the Restated Lease that do not materially increase the obligations or liabilities of the City to effectuate the purposes of this Resolution.
Attachments: 1. Leg Ver1, 2. DRAFT Lease Agreement, 3. OCA Ltr. 082223, 4. Form 126, 5. BLA Rpt 092023, 6. Cmte Pkt 092023, 7. Board Pkt 092623
Related files: 121048
Legislation Details
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