County of Monterey - File #: 15-0618

• File #: 15-0618
• Name: Approve Second Amend. to Lease Agreement A-10907 with LIFE Foundation
• Type: General Agenda Item
• Status: Passed
• File created: 6/2/2015
• In control: Board of Supervisors
• On agenda: 6/9/2015
• Final action: 6/9/2015
• Title: a. Approve and authorize the Contracts/Purchasing Officer to execute the Second Amendment to Lease Agreement A-10907, effective July 1, 2015, with the Low Income Family Enrichment Foundation, a California limited liability company, at 1000 South Main Street in Salinas, California, to provide $1,500,000 in Lessor funding for tenant improvements, add three suites, thereby increasing the leased square footage from 81,877 to 89,832 for use by the Department of Social Services, reducing the annual cost of living adjustment from 3.3% to 2.75%, and extending the term an additional five (5) years from June 20, 2027 to June 20, 2032; and b. Direct the Auditor-Controller to make lease payments of $227,121.90 per month and in accordance with the terms of the agreement.
• Sponsors: Resource Management Agency

Date	Action By	Action	Result
6/9/2015	Board of Supervisors	approved	Pass

Title
a. Approve and authorize the Contracts/Purchasing Officer to execute the Second Amendment to Lease Agreement A-10907, effective July 1, 2015, with the Low Income Family Enrichment Foundation, a California limited liability company, at 1000 South Main Street in Salinas, California, to provide $1,500,000 in Lessor funding for tenant improvements, add three suites, thereby increasing the leased square footage from 81,877 to 89,832 for use by the Department of Social Services, reducing the annual cost of living adjustment from 3.3% to 2.75%, and extending the term an additional five (5) years from June 20, 2027 to June 20, 2032; and
b. Direct the Auditor-Controller to make lease payments of $227,121.90 per month and in accordance with the terms of the agreement.

Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:

a. Approve and authorize the Contracts/Purchasing Officer to execute the Second Amendment to Lease Agreement A-10907, effective July 1, 2015, with the Low Income Family Enrichment Foundation, a California limited liability company, at 1000 South Main Street in Salinas, California, to provide $1,500,000 in Lessor funding for tenant improvements, add three suites, thereby increasing the leased square footage from 81,877 to 89,832 for use by the Department of Social Services, reducing the annual cost of living adjustment from 3.3% to 2.75%, and extending the term an additional five (5) years from June 20, 2027 to June 20, 2032; and

b. Direct the Auditor-Controller to make lease payments of $227,121.90 per month and in accordance with the terms of the agreement.

SUMMARY/DISCUSSION:
In June 2007, the County entered into a 20 year lease with the Low Income Family Enrichment (LIFE) Foundation for the 1000 S. Main Street, Salinas building to house functions of the Department of Social Services (DSS). Approval of this Amendment will provide $1,500,000 in initial lessor funding for Tenant Improvements to remodel the ent...