Laserfiche WebLink
OVERSIGHT BOARD <br />FOR THE <br />CITY OF RIVERSIDE AS SUCCESSOR AGENCY <br />TO THE <br />REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE <br />TO: OVERSIGHT BOARD MEMBERS DATE: February 28, 2013 <br />FROM: COMMUNITY DEVELOPMENT DEPARTMENT ITEM NO: 5 <br />DEVELOPMENT DIVISION <br />WARD: 1 <br />SUBJECT: LEASE PROPOSAL — 3737 MAIN STREET, SUITE 104 WITH THE SENATE <br />RULES COMMITTEE, STATE OF CALIFORNIA, FOR STATE SENATOR <br />RICHARD ROTH <br />ISSUE: <br />The issue before the Oversight Board is whether to adopt a resolution authorizing the City of <br />Riverside as Successor Agency to the Redevelopment Agency of the City of Riverside <br />(Successor Agency) to prepare and execute a lease agreement with the Senate Rules <br />Committee, State of California, for State Senator Richard Roth for 3737 Main Street, Suite 104 <br />(Premises, Exhibit A). <br />RECOMMENDATION: <br />That the Oversight Board adopt the attached Resolution (Exhibit B) authorizing the Successor <br />Agency to prepare and execute a lease agreement with the Senate Rules Committee, State of <br />California, for State Senator Richard Roth in accordance with the proposed lease terms for the <br />Premises shown below. <br />BACKGROUND: <br />On January 7, 2013, Successor Agency staff received a Letter of Intent (LOI) from the Senate <br />Rules Committee, State of California, proposing a general office space for newly elected State <br />Senator Richard Roth within the Premises. <br />As such, staff recommends that the Oversight Board approve a lease agreement for the <br />Premises based on the following terms: <br />Use: General office <br />Square Feet: 2,105 square feet of rentable space <br />Lease Term: Three years and eight months <br />Monthly Rent: $3,157.50 (or $1.50 psf) per month on a Full Service Gross (FSG) basis <br />5 -1 <br />