City Council

8. AUTHORIZATION TO ENTER INTO AN OFFICE LEASE AGREEMENT WITH SHERMAN OAKS CAPITAL\nASSOCIATES, LP AND PASADENA HOLDINGS, LLC, COLLECTIVELY DOING BUSINESS AS PASADENA\nTRI CITY VENTURES, FOR THE PREMISES LOCATED AT 150 SOUTH LOS ROBLES AVENUE, IN AN AMOUNT\nNOT-TO-EXCEED $5,485,446 FOR PASADENA WATER AND POWER OFFICES (City Manager’s\nOffice)\nRecommendation: It is recommended that the City Council:\n(1) Find that the leasing of 150 South Los Robles Avenue is categorically exempt from the California Environmental\nQuality Act (“CEQA”) pursuant to the State CEQA Guidelines Section 15301 (Existing Facilities); there are no\nfeatures that distinguish this project from others in the exempt classes, and therefore, there are no unusual\ncircumstances; and\n(2) Authorize the City Manager to execute a lease agreement with Sherman Oaks Capital Associates, LP, and\nPasadena Holdings, LLC, collectively doing business as Pasadena Tri City Ventures in the amount not-to-exceed\n$5,485,446 for the office space located at 150 South Los Robles Avenue incorporating the terms and conditions\ngenerally described in the agenda report, and to execute any other related agreements necessary to effectuate the\ntransaction, including non-substantial revisions.