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Committee continues 25‑year Twin Peaks Petroleum lease after concerns about locking public land into long fossil‑fuel term
Summary
Discussion of a proposed 25‑year lease with Twin Peaks Petroleum for a gas station on public land produced concerns from multiple supervisors about a long term lease for a gasoline service given future alternative‑fuel goals; the owner cited tank replacement costs (~$750,000) as rationale for seeking a long term and the committee continued the item for one week to allow further discussions with the tenant and President Yee’s office.
The committee discussed a proposed lease amendment to extend or renew a ground lease with Twin Peaks Petroleum (Twin Peaks Auto Care) at 598 North Boulevard Drive, proposing a 25‑year initial term with a base rent of $200,000 per year and a 3% annual adjustment. President Yee’s office and the Real Estate office described the site as a legacy business and explained the parties negotiated a longer term to allow the tenant to fund…
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