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09-13-2021 BPU RPT 09
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09-13-2021 BPU AGENDA
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<br /> <br />RIVERSIDE PUBLIC UTILITIES <br />Board Memorandum <br /> <br /> <br /> <br />BOARD OF PUBLIC UTILITIES DATE: SEPTEMBER 13, 2021 <br /> <br />SUBJECT: LEASE AGREEMENT WITH WATTEV SB1, INC., FOR THE CITY-OWNED <br />PROPERTY LOCATED AT 1388 SOUTH E. STREET, SAN BERNARDINO, <br />CALIFORNIA, TO FACILITATE THE DEVELOPMENT OF A FACILITY FOR THE <br />LEASING AND RENTING OF ELECTRICAL TRACTOR RIGS TO INCLUDE AN <br />ELECTRICAL CHARGING FACILITY, REST AREA, CONVENIENCE STORE, <br />OFFICE, AND STORAGE AREA FOR AN INITIAL 15 YEAR TERM TO <br />GENERATE APPROXIMATELY $2,370,000 IN REVENUE DURING THE INITIAL <br />LEASE TERM <br />ISSUE: <br />Recommend that the City Council approve an Lease Agreement with WattEV SB1, Inc., for an initial <br />15 year term plus three optional five-year extensions, for the City-owned property located at 1388 <br />South E. Street, San Bernardino, California, to facilitate the development of a facility for the leasing <br />and renting of electrical tractor rigs to include an electrical charging facility, rest area, convenience <br />store, office, and storage area to generate approximately $2,370,000 in revenue during the initial <br />lease term. <br />RECOMMENDATIONS: <br /> <br />That the Board of Public Utilities recommend that the City Council: <br /> <br />1. Approve Lease Agreement with WattEV SB1, Inc. for an initial 15 year term plus three <br />optional five-year extensions for the City-owned property located at 1388 South E Street, <br />San Bernardino, California, to facilitate the development of a facility for the leasing and <br />renting of electrical tractor rigs to include an electrical charging facility, rest area, <br />convenience store, office, and storage area to generate approximately $2,370,000 in <br />revenue during the initial term; and <br /> <br />2. Authorize the City Manager, or his designee to execute all necessary documents, <br />including making minor non-substantive changes, and to execute the three optional five- <br />year extensions, if necessary. <br /> <br />BACKGROUND: <br /> <br />Riverside Public Utilities (RPU) controls the vacant land located at 1388 South E Street, San <br />The Property <br />is shown in the aerial site map below outlined in red. For approximately 37 years, the Property <br />was leased from RPU as an auto dealership, first to Holiday Oldsmobile and later to Center <br /> <br />
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