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Committee backs temporary Chinatown branch lease at 950 Grant Street
Summary
The Budget and Finance Committee voted to forward a resolution approving a 30‑month lease for a temporary Chinatown branch at 950 Grant Street, with rent beginning at $168,000 annually and tenant improvements to be negotiated; the item moves to the full board on Oct. 22.
The Budget and Finance Committee on Oct. 9 voted to forward a resolution that would allow the city to lease 950 Grant Street from JQ Properties LP as a temporary Chinatown branch while the Chinatown Library undergoes a $37 million renovation.
Andrico Penick, director of real estate, described the lease as an initial 30‑month term with a one‑year option that is cancelable on 90 days’ notice. "I'm before you this morning, seeking your positive recommendation on a lease at 950 Grant Street,"…
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