mr. updike to discuss the lease renewal terms. >> mr. updike i'm sure you read the budget and legislative analyst report. >> yes, madam chair. >> that is good well we can start from there. >> very good. thank you. so, i think really the highlight of what robert articulating is what a large property is needed. we want the flexibility to have everyone in one location because there was discussion whether you could bifurcate this operation into two smaller locations perhaps gives us a chance for lower rentals because that market may be more available to us and the point i hope you take away from the prisonitation is having all the resources in one location is tremendous value >> student the human services agency. we have a 56, 878 square foot building and include a parking lot that is of value and a open court yard which provides a lot more respite. both client and to staff on site. what is before you is a 8 year, 3 month initial term renewal with two 5 year options for renewal. the initial rate of that renewal is $63 per square foot and annu

mr. updike to discuss the lease renewal terms. >> mr. updike i'm sure you read the budget and legislative analyst report. >> yes, madam chair. >> that is good well we can start from there. >> very good. thank you. so, i think really the highlight of what robert articulating is what a large property is needed. we want the flexibility to have everyone in one location because there was discussion whether you could bifurcate this operation into two smaller locations perhaps gives us a chance for lower rentals because that market may be more available to us and the point i hope you take away from the prisonitation is having all the resources in one location is tremendous value >> student the human services agency. we have a 56, 878 square foot building and include a parking lot that is of value and a open court yard which provides a lot more respite. both client and to staff on site. what is before you is a 8 year, 3 month initial term renewal with two 5 year options for renewal. the initial rate of that renewal is $63 per square foot and annu

mr. updike to discuss the lease renewal terms. >> mr. updike i'm sure you read the budget and legislative analyst report. >> yes, madam chair. >> that is good well we can start from there. >> very good. thank you. so, i think really the highlight of what robert articulating is what a large property is needed. we want the flexibility to have everyone in one location because there was discussion whether you could bifurcate this operation into two smaller locations perhaps gives us a chance for lower rentals because that market may be more available to us and the point i hope you take away from the prisonitation is having all the resources in one location is tremendous value >> student the human services agency. we have a 56, 878 square foot building and include a parking lot that is of value and a open court yard which provides a lot more respite. both client and to staff on site. what is before you is a 8 year, 3 month initial term renewal with two 5 year options for renewal. the initial rate of that renewal is $63 per square foot and annu

mr. updike to discuss the lease renewal terms. >> mr. updike i'm sure you read the budget and legislative analyst report. >> yes, madam chair. >> that is good well we can start from there. >> very good. thank you. so, i think really the highlight of what robert articulating is what a large property is needed. we want the flexibility to have everyone in one location because there was discussion whether you could bifurcate this operation into two smaller locations perhaps gives us a chance for lower rentals because that market may be more available to us and the point i hope you take away from the prisonitation is having all the resources in one location is tremendous value >> student the human services agency. we have a 56, 878 square foot building and include a parking lot that is of value and a open court yard which provides a lot more respite. both client and to staff on site. what is before you is a 8 year, 3 month initial term renewal with two 5 year options for renewal. the initial rate of that renewal is $63 per square foot and annu

mr. updikes absence. the real issue for me, it is interesting who we are negotiating with.are-this is school district property but negotiating with the tenant that is a long term tenant. i agree that the appraisal are accurate and that the-i think it is process question that leads me to be incredibly just uncomfortable. i got about 4 questions i believe for you. what we are seeing is a 194 percent increase in rent for this lease renewal. 194 percent. that is significant. so, my question to the department of real estate is can you explain how this is justified and how this amount of increase was developed? >> claudia gorem director assistant director. 194 percent is quite alarmer. in 2012 when the lease renewal came up back then, the same transaction agent did that lease renewal as did the negotiation for this one, however, the sublesser or tenant of the school district was different. in 2012, the tenant at that time wanted stability. they wanted one tenant and they wanted a long term tenant and get both those things with the city. at that time there was also negotiated of n

mr. updikes absence. the real issue for me, it is interesting who we are negotiating with. we are-this is school district property but negotiating with the tenant that is a long term tenant. i agree that the appraisal are accurate and that the-i think it is process question that leads me to be incredibly just uncomfortable. i got about 4 questions i believe for you. what we are seeing is a 194 percent increase in rent for this lease renewal. 194 percent. that is significant. so, my question to the department of real estate is can you explain how this is justified and how this amount of increase was developed? >> claudia gorem director assistant director. 194 percent is quite alarmer. in 2012 when the lease renewal came up back then, the same transaction agent did that lease renewal as did the negotiation for this one, however, the sublesser or tenant of the school district was different. in 2012, the tenant at that time wanted stability. they wanted one tenant and they wanted a long term tenant and get both those things with the city. at that time there was also negotiated