LA County Board

36. Fire Department Seven-Year Lease Agreement\nRecommendation: Authorize the Chief Executive Officer to execute the\nproposed lease renewal with RREEF America REIT II Corp. MMMM 3\nCalifornia, a Maryland Corporation (Landlord), for approximately 45,279 sq ft of\noffice space and 180 on-site parking spaces located at 5815-5823 and\n5825-5847 Rickenbacker Road, in the City of Commerce (4), to be occupied\nby the Fire Department with an estimated maximum first-year base rental\namount of $1,250,000, but with a four-month rent abatement of $417,000, will\nbe approximately $834,000, with an estimated total proposed lease amount,\nincluding the rent abatement and electricity costs of $10,138,000 over the\nseven-year term; the Fire Department, as a Special District, is funded\nindependently from the County’s General Fund, and relies primarily on property\ntax revenue to provide essential fire protection and life safety services, and the\nproposed lease amounts are already included in the Department’s existing\nbudget, and the Department will not be requesting additional Net County Cost\nfor this action; authorize the Chief Executive Officer to execute any other\nancillary documentation necessary to effectuate the proposed lease, and to\ntake actions necessary and appropriate to implement the proposed lease\nincluding, without limitation, exercising any early termination rights; and find that\nthe proposed lease is exempt from the California Environmental Quality Act.\n(24-4119)\nAttachments: Board Letter\nPublic Comment/Correspondence