TITLE
Recommendation to authorize City Manager to execute the Second Amendment to Lease No. 25776 with Coastal Long Beach Properties, LLC, for office space at 575-585 Pine Avenue, to house certain veterans' organizations, and the Third Amendment to related Subleases between City of Long Beach and Disabled American Veterans, Long Beach Chapter No. 17 (Sublease No. 25905); Fleet Reserve Association, Branch 43 (Sublease No. 25906); and Arthur L. Peterson Post No. 27, Inc., the American Legion, Department of California
(Sublease No. 25907). (District 1)
DISCUSSION
On May 19, 1998, the City Council authorized the City Manager to execute Lease No.
25776 with Coastal Long Beach Properties, LLC, and related subleases for 3,517
square feet of office space at 575-585 Pine Avenue to house certain veterans’
organizations. The Lease provided a five-year term through September 14, 2003, with
three one-year options to renew at pre-negotiated rates.
On September 2, 2003, the City Council authorized the First Amendment exercising the
first one-year option to extend the term. Although the City entered into First
Amendments with its sub-lessees, the landlord never executed the City’s First
Amendment. On August 24, 2004, the City Council authorized a revised First
Amendment exercising both the first and second-year options to extend the term and
authorizing related Second Amendments for the subleases. The Lease will expire on
September 14,2005.
The veterans’ organizations were displaced from their original offices in the Veterans’
Memorial Building in the mid-1970s as part of an exchange of real property between the
City and State of California. The City’s continuing obligation to provide these veterans’
organizations with office space is discussed in more detail in the attached May 19, 1998
City Council letter.
The proposed Second Amendment to Lease No. 25776 contains the following major
provisions:
TIMING CONSIDERATIONS
[Timing Considerations]
FISCAL IMPACT
[Fiscal Impa...
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