This resolution allows the Department of Homelessness and Supportive Housing to extend its lease for a building at 165 Capp Street to continue operating a drop-in and referral center for homeless individuals. The lease will last for five years, starting from September 22, 2021, with a monthly rent of $22,557, except for October 2021 when no rent is due.
Resolution authorizing the Director of Property, on behalf of the Department of Homelessness and Supportive Housing, to exercise a Lease Extension Option for the real property located at 165 Capp Street, with BC Capp, LLC for continued operation of an approximately 6,500 square foot building as a neighborhood drop-in and referral center and administrative offices serving people experiencing homelessness, for an approximately five-year term commencing on September 22, 2021, through September 30, 2026, at the monthly base rent of $22,557 for a total annual base rent of $270,685 with no rent payable for the month of October 2021.
How it got here
The legislation originated from the need to extend the lease for a homeless resource center at 165 Capp Street, which has been in operation since 2000.
HSA requested the Real Estate Division to review comparable properties and negotiate a new lease for the homeless drop-in and referral center at 165 Capp Street.
A new lease was signed between the City and BC Capp, LLC for the property at 165 Capp Street, with options for two five-year extensions.
The Real Estate Division submitted a resolution to the Board of Supervisors to authorize the exercise of the first lease extension option for the property.
The Budget and Finance Committee recommended the resolution to extend the lease for the homeless resource center.
The Board of Supervisors adopted the resolution to extend the lease for the homeless resource center at 165 Capp Street.
The Mayor approved the resolution, finalizing the lease extension for the property until September 30, 2026.
Reconstructed from attached documents & the official record
