25B - AGMT REGIONAL TRANSPORTATION LEASE

Home Browse Search

Approve Lease Agreement with Senate, CA Legislature for Office Space at the SARTC June 18, 2019 Page 2 The City will complete tenant improvements to provide a safe and efficient use of space for operations. STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal #3 - Economic Development, Objective #2 (create new opportunities for business/job growth and encourage private development through new General Plan and Zoning Ordinance policies), Strategy C (support business development and job growth along transit corridors through the completion of critical transit plans/projects including: The OC Streetcar Project, Santa Ana Regional Transportation Center Master Plan, Complete Streets and General Plan Circulation Element update). FISCAL IMPACT Approval of the site lease agreement obligates Senate, California Legislature, to compensate the City $76,800 annually for the lease of interior office space at the SARTC. The 43-month agreement term begins August 1, 2019, and ends February 28, 2023. The total anticipated revenue from this agreement is as follows: Agreement 43-Month Term FISCAL YEAR REVENUE 2019-20 $70,400 2020-21 $76,800 2021-22 $76,800 2022-23 $51,200 TOTAL $275,200 The proposed FY19-20 budget includes lease revenue in the amount of $70,400 into the PWA — SARTC Operations, Rental -Senate revenue account (No. 06717002-53827) and an appropriation of the same amount for expenditure as follows: Fiscal Accounting Unit Fund Accounting Unit -Account Year - Account No. Description No. Description Amount FY 2019-20 Jul -June y 06717650-62300 Regional Transportation PWA SARTC Operations — $70,400 Center Contract Services -Professional Total $70,400 25B-2