HomeMy WebLinkAbout1988-09-27; City Council; Resolution 88-345*c 0 e
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RESOLUTION NO. 88-345
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE EXTENSION OF LEASE AGREEMENT FOR BRANCH LIBRARY IN PLAZA DE LA COSTA SHOPPING CENTER
WHEREAS, the City Council of the City of Carlsbad,
California has determined that it is in the best interest
the City to extend the lease agreement for library space i:
the Plaza de la Costa Shopping Center,
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NOW, THEREFORE, BE IT RESOLVED by the City Council of
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city of Carlsbad, California, as follows:
1. That a letter of agreement between the City Of
Carlsbad and Sudberry Properties, Inc., a copy of which is
attached hereto marked Exhibit 2 and incorporated herein b
reference, is hereby approved.
2. That funds are available in the Branch Library
Account 180-820-8101-2350.
3. That the Mayor of the City of Carlsbad is hereby
authorized and directed to sign said agreement, for and on
behalf of the City of Carlsbad. 19
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PASSED, APPROVED AND ADOPTED at a regular meeting Of
City Council of the City of Carlsbad, California, on the 2
day of September , 1988 by the following vote, to wit
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AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and Lar:
NOES: None
ABSENT : None
ATTEST :
zizLAam ALFTHA L. RAUTENKRANZ, CitdClerk
(SEAL)
Exhibit 2
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Strdtrerry Pruferties, JHC.
REAL ESTATE DEVELOPMENT
4350 LA JOLLAVlLLAGE DRIVE, SUITE 210. SAN DIEGO. CALIFORNIA 92122-1244 PH(
July 21, 1988
Mr. Frank Mannen Assistant City Manager
CITY OF CARLSBAD
120'3 Elm ,V,-enue
Ca.rlsbad, CA 92008-1989
RE: LA COSTA BRANCH LIBRARY
PLAZA DE LA COSTA REAL
Gear Mr. Mannen:
This letter will serve as an attachment to the leases for 77
ar,d 7750" El Camino Real, Carlsbad, California 92009 bet.
the City of Carlsbad and Plaza De La Costa Associstes,.
As per. Section 4 , Page 2 of the lease agreement, the Zit)
CarlsS3d Library (La Costa Branch) will extend the tera of 1
f~r 7750-T, and 7750-14 El Camir.0 Real for three (3) years.
Rerlt will be determined based on a five year cost of li.
increase with base rent at $1.00 per square foot and base yes: 1984.
The most recent Consumer Price Index - U. S. City Average -
Terms published by the United States Department of Labor wil:
ased i.E calculating said increase.
Sinelly: Plaza De La Costa 3,asociates grants an aci5,i"c.loxl
(-:) year i-r3)ti.t3n on both 7750-L and '7756-11 El Caxi~o Rzai to City c-f Carlsbad. The City must er,erci.se this opion in writ
for~ at least 120 days prior to the iesse term eapirztion. E
durir!g the option period will be increased accordirg to Comu.mer ?rice Index - U. S. City Average - A11 ILens pcblished by the United States Department of Labor's Bnreav;
Labor Statistics. In no event will rent decrease during option period.
Please sign this letter and return for our files.
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Mr. Frank Mannen
July 21, 1988 Page Two
Should you have any questions, please do not hesitate to call
KL: hf
Sincerely,
SUDBERRY PRPPER IES, INC.
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q \ ,/ ,//$Iy,$g , f/ I LC.. '\? $LC ~/ ,~ #f/,.q,-
Kathy!Log$ , CSM
Director ?f Proqerty,l?anagement
APPROVED AND ACCEPTED:
CITY OF C
BY: @Z/f /,' y /&*
CLAUDE A. LEWIS, Mayor
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Sb(&btd6~~y Fkyvrties, Ji~c. .,
REAL ESTATE DEVELOPMENT
0350 LA JOLLA VILLAGE DRIVE, SUITE 210. SAN DIEGO. CALIFORNIA 92122-1244 PHOI
PLAZA DE LA COSTA
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CARLSBAD LIBRARY LEASE RENEWAL
Lease #l: 3,050 Square Feet
Renew for Year(s) at $1.00/SF
5 Year Cost of Living Increase
EXAMPLE: $3,050.00 X 349.0 (3/88)* = $3,628.00 or $1.19/! 293.4 (3/83)*
Lease #2: 1,459 Square Feet
Renew for Year(s) at $1.00/SF
5 Year Cost of Living Increase
EXAMPLE: $1,459.00 X 349.0 (3/88)* = $1,735.50 or $1.19/S
293.4 (3/83)*
Total rent per month for option period would be approximate
$5,363.50 or a 44% increase.
*Actual cost of living will be based on 11/83 and 11/88.