Title:
Title
Agreements: Powerhouse Science Center Amendment to Leases, Stormwater Maintenance, Matsui Park Primary Use and Maintenance, and Third Funding Agreement
End
FileID
File ID: 2018-01646
Location
Location: 400 Jibboom Street, District 4
Recommendation:
Recommendation
Pass a Motion authorizing the City Manager or City Manager's designee to execute: 1) First Amendment to the Site Lease for the Powerhouse Science Center (PSC); 2) First Amendment to the Project Lease for the PSC; 3) Second Amendment to the Ground Lease for the PSC; 4) Third Amended and Restated Funding Agreement for the PSC; 5) Stormwater Treatment Measure Access and Maintenance Agreement for the PSC; and 6) the Robert T. Matsui Waterfront Park Primary Use and Maintenance Agreement.
Contact: Rachel Hazlewood, Senior Project Manager, (916) 808-8645, Office of Innovation and Economic Development
Body
Presenter: None
Attachments:
1-Description/Analysis
2-First Amendment to the Site Lease 2017-1521-1
3-First Amendment to the Project Lease 2017-1523-1
4-Second Amendment to the Ground Lease 2017-1522-3
5-Third Amended and Restated Funding Agreement 2014-0471-3
6-Stormwater Treatment Measure Access and Maintenance Agreement
7-Robert T. Matsui Waterfront Park Primary Use and Maintenance Agreement
Description/Analysis
Issue Detail: On December 19, 2017, the City Council approved the Ground Lease and related Site and Project Leases for the new Powerhouse Science Center (Powerhouse or PSC) to be located at 400 Jibboom Street in the historic former PG&E Power Station. At the time the leases were drafted, a project boundary had not been surveyed, however, that survey has now been completed and is incorporated through the amendments to the Site Lease, Project Lease and Ground Lease (Attachments 2, 3 and 4). Additionally, the insurance section of the Ground Lease is being amended to be consistent with City standard insurance requirements. The new boundary will also be submitted ...
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