Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Leases topic
No spam. Unsubscribe anytime.
Committee Advances SFPD Lease at 752 Vallejo After Technical Amendments
Summary
The committee advanced a 5‑year lease for ~750 sq ft at 752 Vallejo to provide space for SFPD investigators, approving technical amendments that lowered tenant improvement costs and clarified start dates; the item was forwarded to the full Board with committee recommendation.
The Government Audit & Oversight Committee considered a Department of Real Estate resolution to lease roughly 750 rentable square feet at 752 Vallejo Street to Evans Investment Partners LLC for use by the Police Department’s investigative unit. Supervisor Aaron Peskin, sponsor of the resolution, said the lease would relieve investigators who work in an open squad room and provide appropriate secure space.
Director John Updike (Real Estate) gave details: the lease term is five years with one five‑year option; the base rent and annual increases were described in the report and validated by a CBRE appraisal. Real Estate corrected technical figures in committee: the tenant improvement (TI) estimate in the resolution was revised from $66,750 to $62,819 and the department structured a lump‑sum payment for TI that, per the office’s calculations, saves the city roughly $12,000 in avoided interest costs compared with amortization.
Budget & Legislative Analyst Severn Campbell said the BLA estimated a general‑fund cost for the lease over five years of approximately $290,000 but noted the Real Estate corrections would reduce that estimate. BLA recommended approval as amended and recommended a corrected lease start date of Aug. 1, 2017.
The committee voted to amend the resolution to reflect the corrected TI number and start date and forwarded the item to the full Board with a recommendation for approval; no public comment was offered at the hearing and the motion carried without opposition.
Next steps include final Board consideration and the City executing the lease if the full Board approves the resolution.
