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Home My WebLink AboutStaff Report 13860ŝƚǇŽĨWĂůŽůƚŽ;/ηϭϯϴϲϬͿ ŝƚǇŽƵŶĐŝů^ƚĂĨĨZĞƉŽƌƚ DĞĞƚŝŶŐĂƚĞ͗ϭϮͬϭϯͬϮϬϮϭ City of Palo Alto Page 1 dŝƚůĞ͗ŝƐĐƵƐƐŝŽŶĂŶĚWŽƐƐŝďůĞŝƌĞĐƚŝŽŶƚŽĞůĂǇ/ŶŝƚŝĂƚŝŽŶŽĨŽĂƌĚĂŶĚ ŽŵŵŝƐƐŝŽŶ/ŶͲWĞƌƐŽŶDĞĞƚŝŶŐƐ &ƌŽŵ͗ŝƚǇDĂŶĂŐĞƌ This item will be a verbal discussion at the meeting. If any materials are made available prior to the meeting, they will be distributed as a special late packet release on Thursday, December 2, 2021. 21 Packet Pg. 355 ŝƚǇŽĨWĂůŽůƚŽ;/ηϭϯϰϰϯͿ ŝƚǇŽƵŶĐŝů^ƚĂĨĨZĞƉŽƌƚ DĞĞƚŝŶŐĂƚĞ͗ϭϮͬϭϯͬϮϬϮϭ City of Palo Alto Page 1 dŝƚůĞ͗WƌŽƉĞƌƚǇ>ĞĂƐĞƐŶƚĞƌĞĚŝŶƚŽďǇŝƚǇDĂŶĂŐĞƌhŶĚĞƌWĂůŽůƚŽ DƵŶŝĐŝƉĂůŽĚĞ^ĞĐƚŝŽŶϮ͘ϯϬ͘ϮϭϬ;ŚͿ͕ĂŶĚZĞƉŽƌƚĞĚWĞƌ^ĞĐƚŝŽŶŽĚĞ Ϯ͘ϯϬ͘ϳϭϬ&ŝƐĐĂůzĞĂƌϮϬϮϭ &ƌŽŵ͗ŝƚǇDĂŶĂŐĞƌ >ĞĂĚĞƉĂƌƚŵĞŶƚ͗ĚŵŝŶŝƐƚƌĂƚŝǀĞ^ĞƌǀŝĐĞƐ This is an informational report and no Council action is required. /^h^^/KE Palo Alto Municipal Code (PAMC) Section 2.30.710 requires an annual report to the Council of all leases and rentals of city property with third parties approved by the City Manager. This list excludes leases specifically approved by the City Council. The attached reports transmit the information (Attachment A) for fiscal year (FY) 2021 as required by the PAMC. PAMC Section 2.30.210 (h) authorizes the City Manager to award and sign contracts to rent, lease, or license city property to other parties regardless of the price for a term not exceeding three years. The City Manager may enter into and sign contracts to rent, lease, or license property at the Cubberley site for terms up to five years. Total Rental revenues for the leases authorized by the City Manager for FY 2021 totaled $401,867. The total rent revenues for FY 2021 is nearly 50% less in comparison to FY 2020 (CMR 11748). Due to the COVID-19 pandemic and the resulting shelter in place order issued by the County of Santa Clara, the City offered certain tenants the ability to defer up to three months of rent. Total Rent deferred for the leases authorized by the City Manager for FY 2021 totaled $17,638. Rental agreements require deferred rent to be repaid in 12 equal monthly installments beginning January 1, 2021 through December 1, 2021. In addition to the rent deferral, City Council approved a rent forgiveness program (CMR 12234) for qualified tenants. ƚƚĂĐŚŵĞŶƚƐ͗ •ƚƚĂĐŚŵĞŶƚϮϯ͘Ă͗Attachment B: FY 2021 List of Rent Deferrals •Attachment23.b:Attachment A: FY 2021 List of Lease Agreements 22 Packet Pg. 356