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REQUEST FOR ~~ <br />COUNCIL ACTION - <br />~dUCation Ist <br />CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br />FEBRUARY 21, 2006 <br />TITLE: APPROVED <br />LEASE AGREEMENT WITH ^ As Recommended <br />GREYHOUND LINES , INC . ^ As Amended <br />^ Ordinance on 1s1 Reading <br />^ Ordinance on 2"d Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For_ <br />CITY MANAGER <br />CONTINUED TO <br />FILE NUMBER <br />RECOMMENDED ACTION <br />Direct the City Attorney to prepare and authorize the City Manager and the <br />Clerk of the Council to execute a Lease Agreement with Greyhound Lines, <br />Inc. for bus bays and office space at The Depot at Santa Ana. <br />DISCUSSION <br />In 1985, Greyhound Lines, Inc. and The City of Santa Ana entered into an <br />agreement for bus bays and office space at The Depot at Santa Ana. In <br />order to continue this relationship, Greyhound Lines, Inc. has requested a <br />new 5-year lease agreement with options to extend at the sole discretion <br />of the City. <br />The lease agreement would be for Suite 105 plus bus bays 4, 5, and 6. The <br />total office space leased by Greyhound Lines, Inc. will be 1,180 square <br />feet. The starting monthly compensation rate for the lease agreement will <br />be sixty-four hundred dollars ($6,400) a month with automatic annual <br />adjustments, which will be due and payable the second and fourth years. <br />The continued lease agreement with Greyhound Lines, Inc. at The Depot will <br />result in revenues of at least $76,800 annually and will ensure continued <br />Greyhound Lines, Inc. bus services at The Depot at Santa Ana. <br />25F-1 <br />