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Commission delays decision on California Historical Society lease amendment at 680 Mission
Summary
OCII staff presented a consent request for a lease amendment that would relinquish two-thirds of California Historical Society's leased space at 680 Mission in exchange for a $2.25 million buyout; commissioners asked for more time to explore alternatives to converting nonprofit space to market-rate uses and continued the item to the next meeting.
OCII staff asked the Commission to consent to a lease amendment reducing the California Historical Society’s (CHS) leased premises at 680 Mission by about 10,000 square feet so the developer could lease the space at market rates and pay a $2.25 million buyout, of which OCII’s pro rata recovery would be roughly $947,000 and would be treated as Community Development Block Grant program income.
Tracy Reynolds…
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