Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Subject: Lease Extension Agreement with San Mateo County Transit District for use of Sequoia Caltrain Parking Lot (Lease No. 1329)
RECOMMENDATION:
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Adopt a resolution authorizing:
A) The President of the Board of Supervisors to execute an Extension to the Lease Agreement with the San Mateo County Transit District for parking at the Redwood City Sequoia Caltrain Parking Lot; and
B) The County Manager, or County Manager’s designee, to accept or execute, on behalf of the County of San Mateo, certain notices, options, consents, approvals, terminations, and other documents in connection with the Lease Agreement.
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BACKGROUND:
The construction of County Parking Structure 2 resulted in temporary and permanent relocation of employee and jury parking along Hamilton Street and certain surface parking lots on the County Center Campus. On February 26, 2019, the County entered into a lease agreement with the San Mateo County Transit District (“District”) to lease 75 parking spaces during Phase 1, and 200 parking spaces in Phase 2 at the underground parking lot known as the Sequoia Caltrain Parking lot located at 1001-1111 El Camino Real, in Redwood City (“Underground Lot”).
Parking Structure 2 is scheduled to be complete by June 30, 2021. The parking spaces leased at the Underground Lot will be restored at Parking Structure 2 when Parking Structure 2 is complete and ready for occupancy.
DISCUSSION:
Real Property Services has negotiated a Lease Extension with the District to extend the County’s use of the parking spaces at the Underground Lot, reduced from 200 to 75 spaces, through June 30, 2021, with an option to extend on a month-to-month basis through December 31, 2021, or until Parking Structure 2 is complete and ready for occupancy. The parking spaces in the Underground Lot, intended to supplement the District’s nearby surface lots for Caltrain commuters, currently exceed the demand by commuters, and the District has, in the past, leased that excess parking capacity to other users. Based on recent parking studies, the District has determined that anticipated demand by commuters can be satisfied by its available surface lots and 100 spaces in the Underground Lot.
The proposed Lease Extension will authorize County to continue to use 75 spaces at a rate of $7,500 per month through June 30, 2021, with an option to extend on a month-to-month basis through December 31, 2021, or until Parking Structure 2 is complete and ready for occupancy. In the event the Courts require expansion up to 200 parking spaces during the month of June, 2021, the County will provide notice to the District and pay for the additional spaces.
FISCAL IMPACT:
Funding for this agreement is included in the project budget for the Parking Structure 2 Project.