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Lease Agreement for Office Space at SARTC <br />July 16, 2024 <br />Page 2 <br />Company II, LLC is now requesting to continue leasing the same space at SARTC for <br />the duration of the OC Streetcar Project. <br />Staff recommends continuing to lease Suite 200, consisting of approximately 4,429 <br />square feet of office space at SARTC for a one-year term, with the option of 12 one - <br />month extensions to Walsh Construction Company II, LLC. By leasing available office <br />space to Walsh Construction Company II, LLC, lease revenue will be generated for the <br />SARTC day -to day operations (Exhibit 1). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with the action. <br />FISCAL IMPACT <br />Approval of the site lease agreement obligates Walsh Construction Company II, LLC, to <br />compensate the City $279,850 for the term of the lease agreement, including the option <br />for twelve one -month renewal options, for lease of interior office space at the SARTC. <br />Revenue from this lease agreement has been budgeted in the Public Works Agency- <br />SARTC Operations, Rental -Walsh Construction revenue account (06717002-53823). <br />Fiscal Year <br />Accounting Unit <br />Fund Description <br />Accounting Unit, Account <br />Amount <br />- Account # <br />Description <br />2024-25 (July <br />06717002-53823 <br />Regional Transp <br />PWA-SARTC Operations, <br />$134,105 <br />16-June 30) <br />Center <br />Rental -Walsh Construction <br />2025-26 (July <br />06717002-53823 <br />Regional Transp <br />PWA-SARTC Operations, <br />$5,820 <br />1-15) <br />Center <br />Rental -Walsh Construction <br />Optional Extensions <br />2025-26 (July <br />06717002-53823 <br />Regional Transp <br />PWA-SARTC Operations, <br />$134,105 <br />16 — June 30) <br />Center <br />Rental -Walsh Construction <br />2026-27 (July <br />06717002-53823 <br />Regional Transp <br />PWA-SARTC Operations, <br />$5,820 <br />1-15) <br />Center <br />Rental -Walsh Construction <br />Total: <br />$279,850 <br />EXHIBIT(S) <br />1. Lease Agreement with Walsh Construction Company II, LLC <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Alvaro Nunez, Acting City Manager <br />