TITLE
Recommendation to authorize City Manager to execute Third Amendment to Lease No. 26751 by and between 110 Pine, LLC, an Arizona limited liability company, and the City of Long Beach for office space at 110 Pine Avenue, Suites 820, 1100 and 1200. (District 2)
DISCUSSION
On February 8, 2000, the City Council approved Lease No. 26751 between 110 Pine, LLC (as "Landlord"), and the City of Long Beach (as "Tenant") for approximately 6.905 rentable square feet of office space at 110 Pine Avenue, Suite 1200, to house the Department of Community Development ("Department"), Housing Services Bureau. The initial leased premises constituted approximately 80 percent of Suite 1200.
On May 21, 2002, the City Council approved the First Amendment allowing for the expansion of the leased premises to include Suite 1100. On May 20. 2003. the City Council approved the Second Amendment allowing for the further expansion of the leased premises to include the remaining portion of Suite 1200 (see Exhibit "A). The combined premises total approximately 17,523 rentable square feet. Currently, the Department's Economic Development Bureau is housed in Suite 1100, the Housing Services Bureau is housed in Suite 1200 and the Long Beach Historical Society subleases approximately 1,777 rentable square feet in Suite 1200. The Long Beach Historical Society's Sublease was approved by City Council on March 22, 2005.
Earlier this year, the City Council approved the sale of bonds in the amount of
$188,345,243 for the Redevelopment Agency of the City of Long Beach. The bond proceeds will be used to finance market rate housing, neighborhood retail, open space and parks, City facilities and infrastructure projects. The Department's Redevelopment Bureau anticipates adding a minimum of four staff members to expedite the completion of the abovementioned projects. As such, additional ofice space is required to adequately support expanded Department operations.
To accommodate the Department, an amendm...
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