TITLE
Recommendation to authorize City Manager to execute all documents necessary for the Second Amendment to Lease No. 27876 with 3837 Atlantic Real Estate, for approximately 1,000 square feet of commercial office space at 3837 Atlantic Avenue, for use as the City Council Eighth District Field Office, for a four-year term at the initial monthly base rent of $1,500. (District 8)
DISCUSSION
Since 2002, the Eighth District Councilmember has operated a field office at 3837 Atlantic Avenue (Site) to provide residents with a convenient point of contact to discuss community issues. The Site is a visible storefront office facility that is easily accessible to the general public and offers a wide variety of community services to Eighth District constituents.
On December 19, 2007, the City exercised its final option to extend Lease No. 27876, which terminated on June 30, 2008. In an effort to secure the Site for continued long-term use, a new Lease extension has been negotiated for approximately 1,000 square feet of office space at 3837 Atlantic Avenue. The proposed Second Amendment to Lease No. 27876 contains the following major terms and conditions:
· Lessor: 3837 Atlantic Real Estate.
· Lessee: The City of Long Beach.
· Premises: The leased premises shall contain approximately 1,000 square feet of
commercial office/retail space located at 3837 Atlantic Avenue, Long Beach.
· Lenqth of Term: The term shall be for 4 years, commencing on July 1,2008 and
terminating on June 30, 2012.
· Rent: The monthly base rent shall be $1,500 ($1.50 per square foot) for the first
year of the new term. Thereafter, the rent shall have annual C.P.I. increases with
a cap of 5 percent. This rent is considered to be very competitive for the Eighth
District Council area.
. Option to Renew: There shall be one option to renew for one two-year period at
the then prevailing rental rate.
. Utilities. Services and Taxes: The Lessor shall pay the costs associ...
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