County Manager's Office
October 28, 2004
BOARD MEETING DATE:
December 7, 2004
Honorable Board of Supervisors
Steve Alms, Manager, Real Property Services
Second Lease Amendment with Coyote Point Yacht Club, Inc. for the Operation of a Yacht Club at Coyote Point Park, San Mateo, California (Lease No. 5025)
Adopt a Resolution authorizing the President of the Board of Supervisors to execute a Second Lease Amendment with Coyote Point Yacht Club, Inc., extending the term of the lease by eight years and requiring the tenant, within two (2) years, to complete certain improvements to the premises, including those necessary to comply with the Americans with Disabilities Act (“ADA”).
The Coyote Point Yacht Club has been in operation at Coyote Point Park since 1967. The current lease expires on September 15, 2011, and the Yacht Club has one-five year option to extend. Coyote Point Yacht Club, Inc. proposes to make certain improvements to the facility, including those necessary to fully comply with ADA in accordance with the current lease. An eight-year extension of the lease is proposed so that the tenant can meet the requirements of its lender in financing the cost of the improvements.
The Coyote Point Yacht Club Board of Directors is developing five and ten-year improvement plans for the Club, including ADA improvements. The total cost of the improvements is estimated at $250,000, including $200,000 for the ADA related improvements. The Yacht Club Board of Directors intends to fund these improvements from the proceeds of a 20-year loan.
The Director of the Environmental Services Agency and the Parks and Recreation Director concur in this recommendation.
The proposed Second Lease Amendment keeps the commitment of responsive, effective and collaborative government and goal number 20: Government decisions are based on careful consideration of future impact, rather than immediate gain. The amendment contributes to this commitment and goal by providing the extension of the term that will assist Coyote Point Yacht Club, Inc. in funding capital improvement of the facility.
There is no fiscal impact associated with the lease extension.