TITLE
Recommendation to authorize City Manager to execute a First Amendment to Lease No. 30310 with the Los Angeles County Flood Control District for approximately 19 acres of unimproved property to extend the term for an additional 34 years for a total lease term of
99 years. (District 6)
DISCUSSION
On June 19, 2007, the City Council authorized the execution of Lease No. 30310 (Lease) with the Los Angeles County Flood Control District (Landlord) for 19 acres of unimproved property, also known as both Chittick Field and the Hamilton Bowl, for a 65 year term for use for recreational purposes.
Subsequently, City staff has determined that a 99-year Lease is more appropriate for the proposed use of this site. City staff approached the Landlord with a proposal to extend the term of the existing Lease to 99 years. The Landlord has agreed to the request and intends to present the proposed First Amendment to its Board of Supervisors for approval.
The proposed First Amendment to Lease No. 30310 shall contain the following major terms:
· Landlord: Los Angeles County Flood Control District.
· Tenant: City of Long Beach.
· Term: The term of the Lease, which commenced on July 1, 2007, shall be extended an additional 34 years for a total 99-year term and shall expire on June 30, 2106
· Rent: The base rent for the premises shall remain at $0 per year.
All other remaining terms and provisions of Lease No. 30310 shall remain in full force and effect.
This letter was reviewed by Deputy City Attorney Richard F. Anthony on November 12, 2007 and Budget Management Officer Victoria Bell on November 13, 2007.
TIMING CONSIDERATIONS
City Council action is requested on November 20, 2007, in order to execute the First Amendment prior to the meeting of the County Board of Supervisors on December 18, 2007.
FISCAL IMPACT
There is no fiscal impact associated with the recommended action.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
MICHAEL P.CONWAY
A...
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