TITLE
Recommendation to authorize City Manager to execute any and all documents necessary for the First Amendment to Parking License Agreement No. 32678 between the City of Long Beach and 6th & Pine Development, LLC, a California Limited Liability Company, for the use of City-owned property for parking purposes. (Citywide)
DISCUSSION
6th & Pine Development, LLC, (Licensee) is the owner of the former Press-Telegram building at 6th Street and Pine Avenue (Site) in downtown Long Beach. Molina Healthcare currently occupies the Site under lease with Licensee. Molina generates up to 900 local jobs and has a significant positive impact on the downtown area and economic health of the City.
Although the Site complies with code-required parking, additional parking is needed to accommodate the number of employees. To address this need, on May 1,2012, the City Council approved Parking License Agreement #32678 (Agreement) with Licensee to provide the additional parking. City staff identified a number of locations in the City that, either singularly or in aggregate, can accommodate the parking need. Multiple locations were identified, providing the City with maximum flexibility to assign parking in a manner that minimizes neighborhood impacts and allows prudent development of vacant land.
Licensee has recently extended its agreement with Molina Healthcare, and City staff recommends the following amendments to the Agreement:
• Term: Extend the base term of the Agreement by five years to expire December 31, 2029
• Location: Establish a radius of five miles from the Site for additional parking
All other terms and conditions of the Agreement shall remain in place including the following:
• Licensor: The City of Long Beach
• Licensee: 6th & Pine Development, LLC
?• Use: Parking of vehicles by employees only.
• Options: The current Parking License Agreement provides that upon mutual agreement, the Agreement may be extended for two successive periods of 5 years each. E...
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