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Title:
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Ordinance: Approve and Authorize the Executive Director to Execute Supplemental Lease Agreements with Two Tenants in the Seaport Logistics Complex as Follows: (i) Second Supplemental Agreement with Impact Transportation, LLC to Decrease Premises From Approximately 18.0 Acres to 15.5 Acres, Lower Annual Rent Escalator from 5% to 3%, Extend the Maximum Lease Term by 1.5 Years, Resulting in Net Additional Rent of Approximately $3.0 Million; (ii) Third Supplemental Agreement with Pacific Coast Container, Inc. DBA PCC Logistics to Lower Annual Rent Escalator from 5% to 3% and Extend the Maximum Lease Term by 1.5 Years, Resulting in Net Additional Rent of Approximately $5.4 Million; and Find that the Proposed Action is Exempt Under the California Environmental Quality Act. (Maritime)
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