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Resolution#220533Passed
In plain English
This resolution allows the Sheriff’s Department to extend its lease for 18,862 square feet at 1740 Folsom Street for an additional five years, starting from July 1, 2022, with an initial rent of $1,030,400 and annual increases of 3%. It also gives the Director of Property the authority to make necessary modifications to the lease without increasing costs to the City.
Resolution approving and authorizing the Director of Property, on behalf of the Sheriff’s Department, to extend the lease of 18,862 square feet located at 1740 Folsom Street with 120 14th Street LLC for an additional five years, at a base rent of $1,030,400 in the initial year, with 3% annual adjustments, commencing on approval of this Resolution; and approving and authorizing a five-year lease extension beginning July 1, 2022, with a total term of July 1, 2002, through June 30, 2027, at the City’s option; authorizing the Director of Property to execute documents, make certain modifications and take certain actions in furtherance of the Lease and this Resolution, as defined herein; and to authorize the Director of Property to enter into amendments or modifications to the Lease that do not increase the rent or otherwise materially increase the obligations or liabilities to the City and are necessary to effectuate the purposes of the Lease or this Resolution.
How it got here
Related / predecessor legislation
↑ predecessor#120038— not yet in database
↑ predecessor#170064— not yet in database
Document trail
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BLA Rpt 091422
PDF ↗Budget and Legislative Analyst
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BLA Rpt 092822
PDF ↗Budget and Legislative Analyst
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How they voted
ADOPTED
Board of Supervisors · Oct 18, 2022Pass
5-0
AMENDED, AN AMENDMENT OF THE WHOLE BEARING SAME TITLE
Budget and Finance Committee · Sep 28, 2022Pass
1-0
RECOMMENDED AS AMENDED
Budget and Finance Committee · Sep 28, 2022Pass
1-0
Legislative journey
Clerk of the BoardMay 6, 2022
·RECEIVED FROM DEPARTMENT
PresidentMay 17, 2022
→RECEIVED AND ASSIGNED
Budget and Finance CommitteeSep 14, 2022 – Sep 28, 2022
↷CONTINUEDPass
✓RECOMMENDED AS AMENDEDPass
✎AMENDED, AN AMENDMENT OF THE WHOLE BEARING SAME TITLEPass
Board of SupervisorsOct 18, 2022
✓ADOPTEDPass
MayorOct 28, 2022
✓APPROVED