This resolution allows the Department of Homelessness and Supportive Housing to extend its lease for office space at 601 Van Ness Avenue until July 31, 2026, at a starting monthly rent of $30,261, with annual increases. It also authorizes the Director of Property to handle necessary paperwork and modifications related to the lease extension.
Resolution authorizing the Director of Property, on behalf of the Department of Homelessness and Supportive Housing, to exercise a Lease Extension Option for approximately 8,646 rentable square feet of office space located at 601 Van Ness Avenue, Suite P, with Opera Plaza L.P., for use as administrative offices, for an extended term to commence on the later of August 1, 2021, or approval of this Resolution, and terminating on July 31, 2026, at the monthly base rent of $30,261 for a total annual base rent of $363,132 in the initial year of the extended term, plus an annual $1 per square foot increase each August 1 thereafter; and authorizing the Director of Property to execute documents, make certain modifications and take certain actions in furtherance of exercising the Lease Extension Option and this Resolution, as defined herein.
How it got here
The legislation originated from the need for the Department of Homelessness and Supportive Housing to secure office space following the relocation of staff from the Human Services Agency.
The City entered into a five-year lease with Opera Plaza, L.P. for office space at 601 Van Ness Avenue, which was originally used by the Human Services Agency.
The Human Services Agency staff scheduled to move to a City-owned office at 1650 Mission Street, vacating the space at 601 Van Ness Avenue.
The City and Opera Plaza, L.P. agreed to extend the lease term through July 31, 2026, with a new base rent of $42 per square foot.
The City Administrator submitted a resolution to the Board of Supervisors to authorize the lease extension for the Department of Homelessness and Supportive Housing.
The Government Audit and Oversight Committee recommended the resolution for approval to extend the lease.
The Board of Supervisors adopted the resolution authorizing the lease extension for the Department of Homelessness and Supportive Housing.
The Mayor approved the resolution, finalizing the lease extension for the office space at 601 Van Ness Avenue.
Reconstructed from attached documents & the official record
