REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Eric G. Parra, Interim City Manager
VIA: Chau Vu, Director of Public Works
PREPARED BY: Bill Krill, Real Estate and Project Manager
Subject:
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Approve and execute the Second Amendment with Los Angeles SMSA to the Schedule of Leased Property for Fire Station No. 7
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Statement of Issue:
City Council is requested to approve and authorize the Mayor and City Clerk to execute a Second Amendment with Los Angeles SMSA to the Schedule of Leased Property for Fire Station No. 7 located at 3811 Warner Avenue.
Financial Impact:
If approved, this Second Amendment will increase current monthly rent received from Los Angeles SMSA for the wireless ground lease located at Fire Station No. 7 from $2,064.05 to $2,718.26.
Furthermore, upon the first renewal period of the lease on December 2, 2028, the current rent will be adjusted to the market value at that time, as determined by a third-party appraisal firm that will be secured by the City.
Recommended Action:
recommendation
A) Approve the Second Amendment with Los Angeles SMSA to Schedule of Leased Property for Fire Station No. 7; and,
B) Authorize the Mayor and City Clerk to sign and execute the Second Amendment to Schedule of Leased Property for Fire Station No. 7.
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Alternative Action(s):
Do not approve and authorize the execution of the Second Amendment. This will allow the current Agreement with Los Angeles SMSA to expire on December 1, 2028, as scheduled.
Analysis:
In 1998 the City of Huntington Beach and Los Angeles SMSA (Verizon) entered into a Master Communication Site Lease Agreement, which allowed for the construction, maintenance, and operation of wireless communication towers and antenna facilities on City-owned property. This agreement required that a separate schedule of lease property be drafted and executed for each individual wireless communication facility. Each schedule...
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