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Resolution#220880Passed
In plain English
This resolution allows the Department of Homelessness and Supportive Housing to extend the lease for 55 units of Permanent Supportive Housing at 124 Turk Street for ten more years, starting from August 2023, at an annual base rent of $563,653.94, with annual increases. It also gives the Director of Property the authority to sign necessary documents and make modifications related to the lease extension.
Resolution authorizing the Director of Property, on behalf of the Department of Homelessness and Supportive Housing, to exercise the option to extend the term of the Lease of real property located at 124 Turk Street, with 124 Turk Street, L.P., for continued use of 55 units of Permanent Supportive Housing at a base rent of $563,653.94 per year with annual rent increases beginning August 2023, for a ten-year term commencing upon approval of this Resolution and expiring on July 31, 2032; and authorizing the Director of Property to execute documents, make certain modifications, and take certain actions in furtherance of the extended term under the Lease and this Resolution, as defined herein.
How it got here
Document trail
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BLA Rpt 091422
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How they voted
ADOPTED
Board of Supervisors ยท Sep 20, 2022Pass
5-0
Legislative journey
PresidentJul 26, 2022
โRECEIVED AND ASSIGNED
Budget and Finance CommitteeSep 14, 2022
โRECOMMENDEDPass
Board of SupervisorsSep 20, 2022
โADOPTEDPass
MayorSep 29, 2022
โAPPROVED