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05-22-2023 BPU
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05-22-2023 BPU RPT 05
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05-22-2023 BPU AGENDA
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Wk I E R I 'ER ERGY I L1 FE <br />x <br />P U B L I C U i I L I f 1 L S <br />RIVERSIDE PUBLIC UTILITIES <br />BOARD OF PUBLIC UTILITIES <br />Board Memorandum <br />DATE: MAY 22, 2023 <br />SUBJECT: FIRST AMENDMENT TO COMMERCIAL LEASE AGREEMENT WITH WATTEV <br />SB1, INC., TO AMEND RENT COMMENCEMENT DATE TO OCTOBER 1, 2023 <br />AND LEASE EXPIRATION DATE TO SEPTEMBER 30, 2038 FOR CITY -OWNED <br />PROPERTY LOCATED AT 1388 SOUTH E. STREET, SAN BERNARDINO, <br />CALIFORNIA; AND SECOND AMENDMENT TO COMMERCIAL LEASE <br />AGREEMENT TO EXTEND RENT COMMENCEMENT DATE TO NO LATER <br />THAN DECEMBER 31, 2023 AND EXPIRATION DATE TO NO LATER THAN <br />DECEMBER 31, 2038, IF NECESSARY <br />ISSUE: <br />Consider recommending that the City Council approve a First Amendment to the Commercial <br />Lease Agreement with WattEV S131, Inc., to amend the Rent Commencement date to October 1, <br />2023 and the Lease Expiration Date to September 30, 2038 for City -owned Property located at <br />1388 South E. Street, San Bernardino, California; and authorize City Manager to execute a <br />Second Amendment to the Commercial Lease Agreement to extend Rent Commencement Date <br />to no later than December 31, 2023 and Expiration Date to no later than December 31, 2038, if <br />necessary. <br />RECOMMENDATIONS: <br />That the Board of Public Utilities recommend that the City Council: <br />1. Approve a First Amendment to the Commercial Lease Agreement with WattEV, S131, Inc., <br />to amend the Rent Commencement Date to October 1, 2023 and the Lease Expiration date <br />to September 30, 2038 for City -owned Property located at 1388 South E. Street, San <br />Bernardino, California; <br />2. Authorize the City Manager, or designee, to execute the First Amendment, including <br />making minor, non -substantive changes, and to sign all documents and instruments <br />necessary to complete the transaction; and <br />3. Authorize the City Manager, or designee, to execute a Second Amendment to extend the <br />Rent Commencement Date to no later than December 31, 2023 and the Expiration Date to <br />no later than December 31, 2038, if necessary. <br />BACKGROUND: <br />Riverside Public Utilities (RPU) controls the vacant land located at 1388 South E Street, San <br />
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