HomeMy WebLinkAboutMINUTES - 06222004 - C.11 TO: BOARD OF SUPERVISORS Contra
FROM: MAURICE M. SHIU, PUBLIC WORKS DIRECTOR a',' ,< Costa
DATE: June 22, 2004 � �� -��" /"� j� County
SUBJECT: APPROVE and AUTHORIZE the Public Works Director to execute the Consent to
Assignment of Lease with WB Concord,LLC, for the premises at 45 John Glenn Drive,
Concord area.
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
L Recommended Action:
APPROVE and AUTHORIZE the Public Works Director, or his designee, to execute the Consent to
Assignment of Lease for 45 John Glenn Drive, Concord, located at the Buchanan Field Airport, effective
upon close of escrow. WB Concord,LLC,a Delaware limited liability company,"assignor",are seeking the
County's consent to assign their leasehold interest in the aforementioned property to Cathedral Hills
Associates, Inc., a California Corporation, "assignee". Concord area. (District IV)
IT. Financial Impact:
There will be no financial impact to the County General Fund or the Airport Enterprise Fund.
Continued on Attachment: X SIGNATURE: '
RtCOMMENDATION OF COUNTY ADMINISTRATOR
_RECOMMENDATION OF BOARD COMMITTEE
7,*PPROVE OTHER
SIGNATURE (S): v� /
ACTION OF BOMCUON J[ E 22 2004 APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS I hereby certify that this is a true and correct copy of an action
xx UNANIMOUS(ABSENT I & V ) taken and entered on the minutes of the Board of Supervisors on
AYES: NOES: the date shown.
ABSENT: ABSTAIN:
KJ:df ATTESTED: JUNE 22, 2004
H:\My Documents\Word Fiies\130\2044\bo6-22-04Sheraton Assignment.doc JOHN SWEETEN,Clerk of the Board of Supervisors and.County
Administrator
Orig.Div:Public Works(Airport Division)
Contacts (Keith Freitas 646-6722)
cc: County Administrator
Auditor-Controller By Deputy;
Public Works Director y
Public Works Accounting
Sheraton Hotel
SUBJECT: APPROVE and AUTHORIZE the Public Works Director to execute the Consent to
Assignment of Lease with WB Concord,LLC,for the premises at 45 John Glenn Drive,
Concord area.
DATE: June 22, 2004
PAGE: 2 of 2
111. Reasons for Recommendations and Background:
The County's tenants, WB Concord, LLC, desires to sell and assign their leasehold interest(Lease)in the
ground lease underlying the Sheraton Concord Hotel at the Buchanan Field Airport, to Cathedral Hills
Associates,Inc.,a California Corporation. The Lease provides that the leasehold cannot be sold or assigned
without County's prior written consent. The County's tenants, and Cathedral Hill Associates, Inc. have
provided evidence that Cathedral Hill Associates,Inc. is a viable entity to assume the leasehold interest as
the County's tenant. This action provides for County's consent to such sale and assignment by County's
tenants. This action does not amend or alter any existing Lease agreements pertaining to the subject
property.
1V. Consequences of Negative Action:
The Consent to Assignment of Lease will not be executed and the assignment of the Lease will not be
completed.