Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Executive
Subject: Third Amendment to Lease Agreement with GLC Belmont LLC, as successor in interest to Harbor Belmont Associates, for the County's leasing of 400 Harbor Boulevard, in unincorporated Belmont (Lease No. 1286)
RECOMMENDATION:
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Adopt a resolution authorizing:
A) The President of the Board of Supervisors to execute a third amendment to lease agreement with GLC Belmont LLC, as successor in interest to Harbor Belmont Associates (Lease No. 1286) for the County's leasing of 400 Harbor Boulevard, in unincorporated Belmont; and
B) The County Executive, or their designee, to accept or execute on behalf of the County of San Mateo any and all notices, options, consents, approvals, terminations, and documents in connection with the lease agreement.
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BACKGROUND:
Since 1988, the County has leased for the use of the Human Services Agency (HSA) most of Buildings B and C of the Harbor Business Park complex, located at 400 Harbor Boulevard, in unincorporated Belmont. Building B consists of approximately 31,625 square feet of space and Building C consists of approximately 27,590 square feet of space. HSA's administrative headquarters are located at the Harbor Business Park and direct client services are provided there.
On March 3, 2009 the County of San Mateo, as authorized by Resolution No. 069940, entered into a ten-year lease agreement with two options to extend the lease for additional five-year terms at 95 percent of the then-prevailing market rate.
On October 30, 2018 the County exercised its option to extend the term of the lease for an additional five years, commencing March 1, 2019.
On February 26, 2019 as authorized by Resolution No. 076442, the County entered into a Second Amendment to Lease Agreement, converting the lease to a "triple net" lease, whereby the tenant bears a greater share of...
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