File #: 15-1587    Version: 1 Name: Amendment to Lease Leaseback Agreement - Cahill/Facon - Whittier Expansion Project at Greenleaf Elementary School
Type: Agreement or Contract Status: Passed
File created: 8/4/2015 In control: General Counsel
On agenda: 8/12/2015 Final action: 8/12/2015
Enactment date: 8/12/2015 Enactment #: 15-1296
Title: Approval by the Board of Education of an amendment to the Facilities Lease under the June 10, 2015 Lease Leaseback Agreement with Cahill/Focon, Joint Venture for the Whittier Expansion Project at Greenleaf Elementary School, located at 6328 East 17th Street Oakland, CA 94621. This amendment: 1) increases the Guaranteed Project Cost to pay for additional tenant improvements under Phase 2 & 3 of the Project; 2) revises the Lease Payment Schedule in Exhibit C of the Facilities Lease to change the term to one year; 3) converts 15% of Phase 2 & 3 tenant improvement payments made by the District into lease payments and; 4) provides for an option for the District to prepay the remaining term of the Facilities Lease without penalty. All other provisions of the June 10, 2015 Facilities Lease remain unchanged.
Attachments: 1. 15-1587 Amendment to Lease Leaseback Agreement - Cahill/Facon - Whittier Expansion Project at Greenleaf Elementary School
Contact: Jacqueline.Minor@ousd.org

Title

Approval by the Board of Education of an amendment to the Facilities Lease under the June 10, 2015 Lease Leaseback Agreement with Cahill/Focon, Joint Venture for the Whittier Expansion Project at Greenleaf Elementary School, located at 6328 East 17th Street Oakland, CA 94621.  This amendment: 1) increases the Guaranteed Project Cost to pay for additional tenant improvements under Phase 2 & 3 of the Project; 2) revises the Lease Payment Schedule in Exhibit C of the Facilities Lease to change the term to one year; 3) converts 15% of Phase 2 & 3 tenant improvement payments made by the District into lease payments and; 4) provides for an option for the District to prepay the remaining term of the Facilities Lease without penalty.  All other provisions of the June 10, 2015 Facilities Lease remain unchanged.

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