TITLE
Recommendation to authorize City Manager to execute any and all documents necessary for a lease between the City of Long Beach and the Historical Society of Long Beach, California, a California nonprofit corporation, for the use and occupancy of City-owned property located at 4258-4260 Atlantic Avenue for a twenty-year term, at an annual rent of $1.00. (District 8)
DISCUSSION
On September 19, 2006, the City Council authorized the acquisition of property located at 4258-4260 Atlantic Avenue and the execution of a temporary Right-of-Entry Permit with the Historical Society of Long Beach (Historical Society) in anticipation of occupancy by the Historical Society. During the past three years, the premises have provided a permanent location for the display of historical artifacts and retail sales of promotional items.
The Historical Society is now requesting to enter into a long-term Lease for the facility. To accommodate the organization, a long-term Lease has been negotiated with the following major terms and provisions:
• Lessor: City of Long Beach.
• Lessee: Historical Society of Long Beach, California, a California nonprofit corporation.
• Premises: The lease Premises shall consist of approximately 5,000 square
feet at 4258-4260 Atlantic Avenue.
• Term: The initial term of the Lease shall be for 20 years, commencing on September 1, 2007 and expiring on August 31, 2027, which reflects the actual dates of occupancy.
?• Rent: The annual base rent for the leased Premises shall be $1.00. As additional consideration, the Lessee shall ensure the leased Premises will be open during all Bixby Knolls Improvement Association special events and at least one weekend day per week.
• Options to Renew: The Lessee shall have two options to renew for a period of 10 years each.
• Early Termination: Either party may terminate the Lease upon providing 180- day prior written notice to the other party.
• Maintenance: The Lessee shall be responsible for all ...
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