HomeMy WebLinkAboutResolutions - No. 2018-30RESOLUTION NO.2018.30
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO EXECUTE A LEASE AGREEMENT FOR
LODI TRANSIT STATION PARKING STRUCTURE OFFICE SPACE
LOCATED AT 25 EAST PINE STREET
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WHEREAS, the City received interest from two parties and submitted both proposals to
the Federal Transit Administration (FTA) for approval since all rent proceeds benefit the Transit
Fund and must be compliant with the City's funding agreement with FTA; and a fair market
analysis was conducted and FTA concurred the proposed rental rate submitted by The Village:
Adult Developmental and Community Center (Village) was appropriate; and
WHEREAS, the lease agreement with Village includes a three-year term with a monthly
rental rate of $2,472.50 ($1 .15 per square foot) for the first six months and $2,687.50 ($t .25 per
square foot) each month thereafter; and
WHEREAS, staff recommends authorizing the City Manager to execute a three-year
lease agreement for the Lodi Transit Station Parking Structure office space located at
25 East Pine Street.
NOW, THEREFORE, BE lT RESOLVED that the Lodi City Council does hereby
authorize the City Manager to execute a three-year lease agreement for the Lodi Transit Station
Parking Structure office space located at 25 East Pine Street, in the amount of $2,472.50 ($t.tS
per square foot) per month for the first six months and $2,687.50 ($t .25 per square foot) each
month thereafter.
Dated: March 7,2018
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I hereby certify that Resolution No. 2018-30 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held March 7,2018 by the following vote:
AYES: COUNCIL MEMBERS - Chandler, Johnson, Kuehne, Mounce, and
Mayor Nakanishi
NOES: COUNCIL MEMBERS - None
ABSENT: COUNCIL MEMBERS - None
ABSTAIN: COUNCIL MEMBERS - None
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NIFER FERRAIOLO
City Clerk
2018-30