This resolution approves a lease amendment for a property at 555 Polk Street, allowing the Department of Public Health to rent it for $202,500 annually, with a 3% increase each year, starting retroactively from August 1, 2026, until July 31, 2031, with an option to extend for three more years. It also authorizes the Director of Property to make necessary changes and execute related documents for the lease.
Resolution approving and authorizing the Director of Property, on behalf of the Department of Public Health, to execute a first amendment to a lease of real property located at 555 Polk Street from Mattison Family Trust, at an annual base rent of $202,500 with 3% annual increases, for an initial term commencing retroactively on August 1, 2026, upon full execution of the lease amendment and expiring on July 31, 2031, with one three-year option to extend; and authorizing the Director of Property to execute documents, make certain modifications and take certain actions in furtherance of the lease, as amended, and this Resolution.
How it got here
This legislation originated from the need to amend an existing lease for the Department of Public Health's Community Justice Center at 555 Polk Street.
The Board adopted Resolution No. 210738, which extended the term of the original lease for the Community Justice Center to July 31, 2026, contingent upon further approval for a subsequent extension.
The City confirmed its timely notice to exercise the Extension Option for the lease, allowing for a five-year extension commencing August 1, 2021, subject to Board approval.
The Director of Public Health and the Director of Property recommended amending the lease to extend the term to July 31, 2031, reduce the annual base rent, and include options for termination and further extensions.
The resolution for the first amendment to the lease was received from the Department of Public Health.
The resolution was received and assigned to a committee for further action.
Reconstructed from attached documents & the official record