TITLE
Recommendation to authorize City Manager to execute the Fourth Amendment to Lease No. 12508 between the City of Long Beach and the Young Men's Christian Association of Greater Long Beach (YMCA) extending the term for City-owned property at 4949 Atlantic Avenue. (District 8)
DISCUSSION
On March 3, 1975, the City Council authorized the City Manager to execute Lease No.
12508 with the YMCA for 2.2 acres of land at 4949 Atlantic Avenue in Scherer Park
(Premises) for the establishment and operation of a YMCA recreation and educational
facility (Facility). The Lease has an initial term of 25 years, with three, five-year options
to extend the term. The annual rent for the Premises is $1, in addition to consideration
in the form of valuable community services and improvements to the Premises. The
Lease was amended with respect to the construction of improvements, the replacement
of exhibits, and the extension of the term until 2005.
The Lease terminated on March 2, 2005. The YMCA and the City entered into
negotiations for a new lease to address the YMCAs proposed improvements to the
Facility and future fund-raising campaigns. It has recently been determined that funding
for the proposed improvements is not available _at this time and the YMCA has
requested to exercise its second five-year option to extend the term of the Lease until
2010.
To provide continued services to the community through the YMCA, the Fourth
Amendment to Lease No. 12508 has been proposed containing the following major
provisions:
Term: The term of the Lease shall be extended to terminate on March 2,2010.
Option to Extend: The YMCA shall have one remaining option to extend the term
of the Lease for an additional five years.
All remaining terms and conditions shall remain in full force and effect.
This letter was reviewed by Senior Deputy City Attorney Donna F. Gwin on December
27,2005, and Budget Management Officer David Wodynski on December 29,2005.
TIMING CONSIDERATIONS
As the Lease ha...
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