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Port Commission approves rent schedule changes and three leases, and ratifies consent agenda resolutions
Summary
Commission approved the FY2012–13 rental-rate schedule (Resolution 1252), authorized leases including Ammunition LLC (L15150) and IDEO, and passed consent-calendar resolutions for park and trail projects; the commission also unanimously approved a closed-session settlement.
The Port Commission voted to approve a set of administrative and leasing items, including changes to the fiscal-year 2012–13 rental-rate schedule and the authorization of several leases.
Geoffrey Bower, the port’s leasing manager, presented the proposed rental-rate schedule and market data supporting adjustments for select bulkheaded office buildings, warehouse and land rates, and an increase in floor-covering fees from $3.50 to $5.00 per square foot. Commissioners moved and approved Resolution 1252.
The commission approved lease number L15150 with Ammunition LLC for approximately 9,652 square feet at Roundhouse 2 (10 Lombard) with a 52‑month term. Bower said the monthly rent is $22,260 and the lease includes a 150‑day rent abatement and $289,000 in tenant improvements. The lease will go to the Board of Supervisors for approval where required; commissioners approved the lease and adopted Resolution 1253.
The commission also authorized actions related to Pier 26 and a direct lease to IDEO, noting that IDEO has invested about $3 million in port property and would invest a further estimated $200,000 in tenant improvements; Resolution 1254 was passed.
Earlier the consent calendar (Items 8A–8D) passed, covering an RFP for a nonprofit youth-employment organization, a contract with the San Francisco Bay Conservation and Development Commission for Pier 27 planning support, a $135,989 modification to a Heron's Head Park contract and a design-services amendment for the Pier 43 Bay Trail Link project.
After reconvening from closed session, the commission unanimously approved settlement of litigation matters described in agenda item 4A1 and voted not to disclose other closed-session matters. The meeting adjourned after those actions.
