TITLE
Recommendation to authorize City Manager, or designee, to execute all documents necessary for a short-term lease between Abbass & Shohreh Tousi and The Housing Authority of the City of Long Beach (Housing Authority), for office space at 521 East 4th Street, for six additional months. (Citywide)
DISCUSSION
On January 20, 2015, the Housing Authority Commission authorized the execution of Lease No. 26422 (Lease) with Abbass and Shohreh Tousi, for the premises located at 521 East 4th Street. The Lease was executed on April 1, 2015 and expired on March 31, 2020. With the execution of a new lease for 1515 Hughes Way, Suite 100 in Pod A not taking affect until September 2020, it is imperative that the Housing Authority extend its stay at 521 East 4th Street until September 30, 2020.
· Landlord: Abbass and Shohreh Tousi, as individuals.
· Tenant: Housing Authority of the City of Long Beach, a municipal corporation.
· Leased Premises: The leased premises consist of approximately 10,000 rentable square feet of office space at 521 East 4th Street, Long Beach, CA 90802.
· Term: Six Months
· Rent Amount: $21,000 per month ($2.10/per square feet, per month)
All remaining terms and provisions of Lease No. 26422 will remain in effect.
This matter was reviewed by Deputy City Attorney Richard F. Anthony on March 18, 2020 and by Revenue Management Officer Geraldine Alejo on March 27, 2020.
TIMING CONSIDERATIONS
Housing Authority Commission action is requested on April 14, 2020, to execute the Lease in a timely manner.
FISCAL IMPACT
The total cost for the six-month lease extension will not exceed $126,000. Funding to cover the lease extension is budgeted in the Housing Authority Fund Group in the Health and Human Services Department. This recommendation has no staffing impact beyond normally budgeted scope of duties and is consistent with existing City Council priorities. There is no local job impact associated with this recommendation.
SUGGESTED ACTION
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