City Council

Item 109: Proposed First Amendment to Lease Between Quartyard II, LLC and the City of\nSan Diego – 1301 Market Street – East Village Neighborhood of the Downtown\nCommunity Plan Area.\nTotal Estimated Cost of Proposed Action and Funding Source:\nRevenue from this lease is deposited into the the Low-and- Moderate-Income Housing\nAsset Fund. The proposed First Amendment to the Lease is anticipated to generate\napproximately $21,600 in additional gross revenue over the first year, and over $64,800 in\ntotal, if all extension options are exercised.\nCouncil District(s) Affected: 3.\nProposed Actions:\nSubitem-A: (R-2024-605 Cor. Copy)\nResolution authorizing execution of a First Amendment to a lease with Quartyard, LLC to\nextend the term of the lease of City-owned property located at 1301 Market Street and\nrelated actions.\nSubitem-B: (R-2024-606 Cor. Copy)\nResolution determining that the Lease Amendment with Quartyard, LLC is exempt from\nthe California Environmental Quality Act Pursuant to Section 15301 of the CEQA\nGuidelines..\nCommittee Actions Taken:\nThis item was heard at the Economic Development and Intergovernmental Relations\nCommittee meeting on May 22, 2024.\nACTION: Motion by Committee Member Campbell, second by Chair Campillo, to\nrecommend Council approval of staff’s proposed actions.\nVOTE: 4-0; Campillo-yea, Campbell-yea, Foster III-yea, Lee-yea.\nEconomic Development: Christina Bibler, (619) 236-6421\nCity Attorney Contact: Daphne Z. Skogen