Title
Approval by the Board of Education of the Sublease with Donor Network, Oakland, CA and Amendment-III to the Office Lease with Sparknight, LLC, a Florida limited liability company, for the expansion of space leased by the District at 1000 Broadway, Oakland to include Suite 150 with 25,333 square feet and Suite 600 with 21,771 square feet, for the purposes of reuniting District administration employees displaced as a result of the significant water damage sustained at the District's 1025 2nd Avenue Administration Building, with the expanded Lease term commencing for Suite 600 on June 15, 2015 and for Suite 150, commencing on November 1, 2015 with the Lease for all District space at 1000 Broadway terminating on August 31, 2019, with combined Lease payments by the District of $102,252.00 monthly or $1,227,024 annually.
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Note:
The expansion lease terms are: 1) for Suite 600, $1.90 per rentable square foot, with one month free rent, commencing June 15, 2015 at a cost of $41,452 per month; and 2) for Suite 150, $2.40 per rentable square foot with two months free rent, commencing on November 1, 2015 at a cost of $60,800 per month. The Landlord, at its expense, is undertaking certain agreed to tenant improvements as provided in the Amendment-III to the Lease.