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Title:
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Resolution approving and authorizing the execution, delivery, and performance of Amended and Restated Lease No. 17134 for Building 49, located at 701 Illinois Street within Crane Cove Park between the Port of San Francisco and the Young Men’s Christian Association of San Francisco (YMCA SF) that would among other things, reduce the seismic improvements described in the Existing Lease, eliminate all rent credits for any seismic work performed by the YMCA SF, require the YMCA SF to open the public restrooms no later than July 1, 2024, delay the rent commencement date to no later than October 1, 2024, as defined in the Amended and Restated Lease; with no change to the initial term of 10 years, retroactive to August 1, 2023, plus options to extend for a total term of up to 34 years, 11 months, with an initial annual base rent of $92,809.80; affirming prior findings under the California Environmental Quality Act; and authorizing the Executive Director of the Port to enter into any additions, amendments or other modifications to the Amended and Restated Lease that do not materially increase the obligations or liabilities of the City or Port and are necessary or advisable to complete the transactions which this Resolution contemplates and effectuate the purpose and intent of this Resolution.
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