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Title:
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Resolution retroactively approving and authorizing the Director of Property, on behalf of the Department of Homelessness and Supportive Housing, to execute a lease of real property with ROSHAN INVESTMENTS LLC, for use of the Adante Hotel located at 610 Geary Street for a non-congregate temporary shelter program with 93 units for an initial term of one year, to commence on April 1, 2025, with one one-year option to extend and an annual base rent of $1,484,280 with 3% annual increases if the City exercise the option to extend, and a maximum final payment of up to $100,000 upon surrender of property; affirming the Planning Department’s determination under the California Environmental Quality Act; and authorizing the Director of Property to execute any amendments, make certain modifications and take certain actions that do not materially increase the obligations or liabilities to the City, do not materially decrease the benefits to the City and are necessary or advisable to effectuate the purposes of the lease agreement or this Resolution.
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