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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 /> Accounting Unit Fund Description Accounting Unit, Account <br /> Fiscal Year Amount <br /> -Account# Description <br /> 2024-25 (July 06717002-53823 Regional Transp PWA-SARTC Operations, $134,105 <br /> 16-June 30) Center Rental-Walsh Construction <br /> 2025-26 (July Regional Transp PWA-SARTC Operations, <br /> 1-15) 06717002-53823 Center Rental-Walsh Construction $5,820 <br /> Optional Extensions <br /> 2025-26 (July 06717002-53823 Regional Transp PWA-SARTC Operations, $134,105 <br /> 16—June 30) Center Rental-Walsh Construction <br /> 2026-27 (July Regional Transp PWA-SARTC Operations, <br /> 1-15) 06717002-53823 Center Rental-Walsh Construction $5,820 <br /> Total: $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 /> City Council 20 — 2 7/16/2024 <br />