Title
Report regarding a resolution approving a First Amendment to the Lease Agreement for use of the Economic Advancement Center located at 366 Grand Avenue in South San Francisco. (Ernesto Lucero, Economic Development Manager).
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RECOMMENDATION
Recommendation
Staff recommends that the City Council adopt a resolution authorizing the City Manager to execute a First Amendment to the Lease Agreement for 366 Grand Avenue, for the use of the Economic Advancement Center.
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BACKGROUND
On April 28, 2021, the City Council approved a resolution authorizing the City Manager to execute a lease agreement with Stacey S. Dobos Trust for the formerly vacant retail space at 366 Grand Avenue for the use of the Economic Advancement Center (EAC). Following completion of a substantial tenant improvement, the EAC opened on February 28, 2022. Since opening, partners within the space now include several nonprofits and programs that support economic mobility initiatives. These include JobTrain, a workforce development nonprofit, Renaissance Entrepreneurship Center (Renaissance), a small business and entrepreneurship support nonprofit, Economic Development staff and the City Promotores program. The current lease will expire on October 31, 2024.
The property, encompassing approximately 6,900 square feet, has been a successful and attractive place for community members due to its central location, 21 dedicated parking spaces, high pedestrian traffic along Grand Avenue, walking distance to Old Town and other areas of the Downtown community, as well as its proximity to transit (SAMTRANS and Caltrain). The space also connects to the City-owned Breezeway next door to provide outdoor uses with placemaking potential.
DISCUSSION
With the current lease agreement expiring on October 31, 2024, the proposed First Amendment would extend the lease for an additional six months, until April 30, 2025. Additional terms of the amended lease include a rate of $2.40 per square foot, or $16...
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