HomeMy WebLinkAbout2000-02-22 - AGENDA REPORTS - LEASE AGMT EXTEN COMMUTER RAIL (2)AGENDA REPORT
City Manager Approval
Item to be presented by: Jeffrey Lambert
CONSENT CALENDAR
DATE: February 22, 2000
SUBJECT: LEASE AGREEMENT EXTENSION FOR COMMUTER RAIL
STATION SITE (METROLINK)
DEPARTMENT: Department of Planning and Building Services
RECOMMENDED ACTION
City Council direct the City Manager to enter into a 10 -month extension of the lease
agreement between the City and Santa Clarita, LLC for the Commuter Rail Station
Site (Metrolink) from February 28, 2000, to December 31, 2000, subject to City
Attorney approval.
BACKGROUND
On March 23, 1999, the City Council approved a Memorandum of Understanding
(MOLT) between the City and Santa Clarita LLC, the owners of the Porta Bella
property. On April 13, 1999, the City Council approved a modification to the
existing Metrolink lease agreement, which extended the term of the lease for the
Commuter Rail Station Site (Metrolink). Under the original terms of the
Development Agreement between the .City and the owner of the Porta Bella
property, the property owner would deed the property to the City upon the
recordation of their first subdivision or the City would purchase the Metrolink site
by April 21, 1999. Since the property owner could not record the first subdivision by
April 21, 1999, and funds were not available for the City to purchase the site, a lease
extension was requested and subsequently approved.
The modification to the lease agreement extended the lease an additional four
months to August 21, 1999. The lease was extended a second time from August 21,
1999, to December 31, 1999, and a third time from December 31, 1999, to February
28, 2000. Throughout this process, City staff and the applicant been negotiating the
terms of the Development Agreement amendment and other proposed changes to the
existing project.
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As staff continues the entitlement process, a fourth lease agreement extension for
the Metrolink station, is required. This 10-month extension would begin on
February 28, 2000, and end on December 31, 2000.
ALTERNATIVE ACTIONS
1. Deny the lease extension
2. Other actions as determined by the City Council
FISCAL IMPACTS
No fiscal impacts are anticipated by the recommendation listed in this report.
ATTACHMENT
1. Fourth Amendment of Lease
LMH
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