Approve and accept the assignment of Lease Agreement No. 17-645 with Pontiac 3 & 5 LLC to its successor entity, Pontiac 4 LLC; Approve and authorize the Chairman to execute a First Amendment to Lease Agreement with Pontiac 4 LLC, a California Limited Liability Company, for approximately 37,282 square feet of office space and 65,252 square feet of warehouse space located at 200 W. Pontiac Way, Clovis CA 93612, to establish the option to purchase the property for $15,700,000 and establishing the date of rent commencement as September 1, 2023, not to exceed 10 years ($20,958,510); or As an alternative, direct the CAO or his designee to provide notice of termination of Lease Agreement 17-645 pursuant to the terms of that agreement on the grounds that there are no longer state and federal funds available to fund the lease payments

What this record is

Held by

Pontiac 3 & 5 LLC

Amount

$15.7M

Runs until

no end date published in this record

Type

amendment

Field

Real estate

Read automatically from the title of the official record. The source document below is authoritative.

Committee

Internal Services

Requested by

Internal Services

Introduced

July 3, 2023

On agenda

July 18, 2023

Passed

July 18, 2023

Enactment no.

Agreement No. 23-379