HomeMy WebLinkAboutReso 41-2012 RESOLUTION NO. 41 -2012
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE AN EXCLUSIVE AUTHORIZATION AND RIGHT
TO LEASE AGREEMENT BETWEEN SRS REAL ESTATE
PARTNERS AND THE CITY OF SOUTH SAN FRANCISCO
FOR THE RETAIL SPACE AT 636 EL CAMINO REAL
WHEREAS, the City of South San Francisco ( "City ") is the owner of certain real
property located at 636 El Camino Real ( "Property ") and has developed a mixed -use affordable
housing project on the Property, which includes approximately 5,000 square feet of
commercial /retail space on the ground floor, along El Camino Real; and
WHEREAS, staff received three (3) proposals to manage the marketing and leasing of the
retail space at 636 El Camino Real and conducted a thorough review of the proposals that
included a cost/value analysis and comparison of marketing strategies; and
WHEREAS, SRS Real Estate Partners presented the most comprehensive strategy for
marketing and leasing the retail space at 636 El Camino Real at a reasonable cost; and
WHEREAS, staff recommends that City Council award an Exclusive Authorization and
Right to Lease Agreement to SRS Real Estate Partners to manage the marketing and leasing of
the retail space at 636 El Camino Real.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco, that the City Council hereby awards an Exclusive Authorization and Right to Lease
Agreement to SRS Real Estate Partners to manage the marketing and leasing of the retail space
at 636 El Camino Real, conditioned on SRS Real Estate Partners' timely execution and
submission of all required documents.
BE IT FURTHER RESOLVED that the City Manager is hereby authorized to execute the
documents necessary to effectuate the Exclusive Authorization and Right to Lease Agreement on
behalf of the City council upon timely submission by SRS Real Estate Partners' signed contract
and all other documents, subject to approval as to form by the City Attorney.
* * * * *
I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the City Council of the City of South San Francisco at a regular meeting held on the 27`" day of
June, 2012 by the following vote:
AYES: Councilmembers Mark Addiego, Karyl Matsumoto, and Kevin Mullin,
Vice Mayor Pedro Gonzalez and Mayor Richard A. Garbarino
NOES: None
ABSTAIN: None
ABSENT: None
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