TITLE
Recommendation to authorize City Manager to execute all documents necessary for a lease between the Redevelopment Agency of the City of Long Beach (Landlord) and the City of Long Beach (Tenant) and any amendments, at the discretion of the City Manager, for office space at 1900 Atlantic Avenue, Suite 200, to house the City’s Center for Working Families at an annual rental rate of $1.00 for a term of approximately sixty-six months; and
Authorize City Manager to execute any and all documents necessary for subleases by and between the City of Long Beach (Sublandlord) and various agencies and organizations (Subtenants) on an “as-needed” basis for the continued operation of the Center for Working Families on City-leased property at 1900 Atlantic Avenue, through the end of the term of the Master Lease. (District 6)
DISCUSSION
One of the priorities of the Central Long Beach Redevelopment Plan is to support the revitalization of commercial sites and to improve commercial corridors. In 2004, the Redevelopment Agency oversaw the construction of Renaissance Square (Project), a two-story, 12,000 square foot mixed-use building located at 1900 Atlantic Avenue (see Attachment) in the Central Redevelopment Project Area. The mission of the Tenant, as well as its business partners, is to create an economic vitality for the community by offering a vast array of financial services and training programs that are described further in this report.
The Project was partially funded through a grant from the United States Department of Commerce - Economic Development Administration (EDA). The EDA grant award had two stipulations, the first being that a retail business serving the neighborhood occupied the ground floor suite (Suite 100). Accordingly, the Redevelopment Agency executed Lease No. CT 55 with Union Bank of California (UBOC) on November 18, 2003. UBOC provides a community-based banking program and specialized banking products, which are tailored to meet the financial ne...
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