County of Monterey - File #: 15-0620

• File #: 15-0620
• Name: Approve First Amend. to Lease Agreement A-12539 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: Approve and authorize the Contracts/Purchasing Officer to execute the First Amendment to Lease Agreement A-12539, 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 fix the annual cost of living adjustment at 2.75%; include one (1) option 8 year extended term and two (2) optional ten year extended terms with free base rent at the end of the initial term; and extend the initial term an additional five (5) five months from July 31, 2023 to December 31, 2023.
• Sponsors: Resource Management Agency

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

Title
Approve and authorize the Contracts/Purchasing Officer to execute the First Amendment to Lease Agreement A-12539, 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 fix the annual cost of living adjustment at 2.75%; include one (1) option 8 year extended term and two (2) optional ten year extended terms with free base rent at the end of the initial term; and extend the initial term an additional five (5) five months from July 31, 2023 to December 31, 2023.

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

Approve and authorize the Contracts/Purchasing Officer to execute the First Amendment to Lease Agreement A-12539, 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 fix the annual cost of living adjustment at 2.75%; include one (1) option 8 year extended term and two (2) optional ten year extended terms with free base rent at the end of the initial term; and extend the initial term an additional five (5) five months from July 31, 2023 to December 31, 2023.

SUMMARY/DISCUSSION:
In July 2012, the County entered into a lease with the Low Income Family Enrichment (LIFE) Foundation to expand occupancy by 9,490 square feet of space in the 1000 S. Main Street, Salinas building to be used by the Health Department's Behavioral Health Bureau. Approval of this Amendment will extend the initial term by five (5) months from July 31, 2023 to December 31, 2023. Additionally, the amendment will fix the annual cost-of-living increase at 2.75%. The current agreement includes an annual increase of 1.5% to 5.0% based on the Consumer Price Index.

At the end of the initial term (January 1, 2024), the Lease Agreement provides for one 8 year extension and two 10 year extension options of free base rent for the ...