To: Board of Supervisors
From: Public Works
SUBJECT:
Request to Approve the Second Amendment to the Lease with A&K Investments, LLC for property at 507 F Street, Eureka
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors approve and authorize the Chair to execute the Second Amendment to extend the Lease Term at 507 F Street, Eureka with A&K Investments, LLC through September 30, 2023; direct the Clerk of the Board to return one (1) executed Second Amendment to Public Works - Real Property Division - for transmittal to the Lessor; and direct the Clerk of the Board to return one executed agenda item to Public Works - Real Property Division.
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SOURCE OF FUNDING:
Social Services Fund
DISCUSSION:
On January 14, 2003 (item C-6), the Department of Health and Human Services (DHHS) entered in a Lease (Attachment 1) with Kramer Properties, Inc. for space at 507 F Street, Eureka. DHHS occupancy of the site commenced on October 1, 2003, after substantial improvements had been made to the property. On November 18, 2003 (Item C-16), DHHS entered into an assignment and First Amendment (Attachment 2) with A&K Investments, LLC, and successors in interest to Kramer Properties, Inc. to adjust and lower the rentable square footage and rent of the Lease and to assign the Lease from Kramer Properties, Inc. to A&K Investments, LLC. The square footage was adjusted after the improvement to the property was completed. On May 21, 2013, (Item C-8), the Board of Supervisors approved the First Option to Extend the Lease (Attachment 3), exercising the first of two (2) five (5) year options to extend the lease up to September 30, 2018. On June 26, 2018, (Item C-15), the Board of Supervisors approved the Second Option to Extend the Lease (Attachment 4), exercising the second of two (2) five (5) year options to extend the lease up to September 30, 2023. As a condition of the second option, it is required that an Amendment to the Lease also be complete...
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