TITLE
Recommendation to authorize City Manager, or designee, to execute all documents necessary for the Second Amendment to Lease No. 29346 with Long Beach Center, LLC, a Delaware limited liability company, for a two-year extension for City-leased office space at 275 East 4th Street, for the operation and management of The Streets retail center parking structures. (District 1)
DISCUSSION
The City of Long Beach (City) is the owner and operator of the parking structures located at The Streets retail center (The Streets) in downtown Long Beach, formerly known as City Place. LAZ Parking, LLC (LAZ), is the City’s parking operations and management services provider. On October 11, 2005, the City Council authorized the execution of Lease No. 29346 (Lease) with Long Beach Center, LLC (Landlord), for office space at 275 E. 4th Street to house the citywide parking operations office for a five-year term. On September 1, 2010, the Landlord and the City executed the First Amendment to the Lease to exercise the five-year option to extend the Lease through August 31, 2015. Since the term expired, the Lease has operated on a month-to-month basis. The location of the parking office near the parking structures is convenient and ideal for security and customer service purposes. Due to the potential of the Landlord’s future development projects at The Streets, a long-term lease at this location is not possible. The City, Landlord, and parking operator are considering options for future office space beyond this two-year lease term.
To continue to provide a parking operations office at The Streets, staff recommend a Second Amendment to the Lease containing the following major terms and conditions:
· Landlord: Long Beach Center, LLC, a Delaware limited liability company.
· Tenant: City of Long Beach, a municipal corporation.
· Premises: Approximately 1,000 square feet of ground floor office space at 275 East 4th Street.
· Use: General office for parking operations.
· Term: The te...
Click here for full text