City Council

Item S500:\nSeventh Amendment to the Lease Between the City of San Diego and I&G 525 B\nStreet, LLC for 525 B Street, San Diego, CA 92101. (Added 7/9/25)\nTotal Estimated Cost of Proposed Action and Funding Source:\n$157,312.00 for Fiscal Year 26 and a remaining $2,631,043.20 for base rent and estimated\noperating expenses over the term of the lease. To be split evenly between the Municipal\nand Water Funds.\nCouncil District(s) Affected: 3.\nProposed Actions:\nSubitem-A: (R-2026-5)\nResolution determining that approval of that certain Seventh Amendment to Lease\nbetween I & G 525 B Street, LLC, a California limited liability company, and the City of\nSan Diego related to office space at 525 B Street is categorically exempt from the\nCalifornia Environmental Quality Act under Title 14 California Code of Regulations\nsection 15301.\nSubitem-B: (O-2026-1)\nIntroduction of an Ordinance approving that certain Seventh Amendment to Lease\nbetween I & G 525 B Street, LLC, a Delaware limited liability company, and the City of\nSan Diego related to office space at 525 B Street.\nSubitem-B: 6 votes required pursuant to Charter Section 99.\nCommittee Actions Taken:\nThis item was heard at the Land Use and Housing Committee meeting on July 2, 2025.\nACTION: Motion by Committee Member Campillo, second by Vice Chair Elo-Rivera, to\nrecommend Council approval of staff’s proposed actions.\nVOTE: 3-0; Lee-yea, Elo-Rivera-yea, Campillo-yea, Moreno-not present.\nEconomic Development: Christina Bibler, (619) 236-6421\nCity Attorney Contact: Julie Gough Inman