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r <br /> COPY <br /> ORDINANCE NO. P- 261 <br /> ORDINANCE OF THE BOARD OF PORT COMMISSIONERS OF <br /> THE CITY OF REDWOOD CITY APPROVING AND <br /> AUTHORIZING EXECUTION OF LEASE AGREEMENT WITH <br /> DIVERSIFIED COMPUTER CONSULTANTS OF CALIFORNIA, <br /> LLC <br /> BE IT ORDAINED BY THE BOARD OF PORT COMMISSIONERS OF <br /> THE CITY OF REDWOOD CITY, AS FOLLOWS: <br /> Section 1. Public hearing having been duly noticed for, and held on <br /> December l0 2014, on the question of approval of the lease <br /> � <br /> agreement hereinafter described, and pursuant to the provisions of Section 48 <br /> the Charter of the City of Redwood City, the Board of Port Commissioners of the <br /> City of Redwood City does hereby approve that certain lease agreement entitled <br /> "Lease Agreement - Diversified Computer Consultants of California, LLC (the <br /> "Lease Agreement") by and between the City of Redwood City, acting by and <br /> through its Board of Port Commissioners ("Port") and Diversified Computer <br /> Consultants of California, LLC ("Tenant"), which Lease Agreement provides that <br /> the term of the Lease Agreement is for a period of four (4) years commencing on <br /> July 1, 2014, with an option to extend the term of the Lease Agreement for a <br /> period of four (4) years. <br /> The initial yearly rent payment during the Initial Term is One Hundred <br /> Forty Four Thousand and NO/100 Dollars ($144,000.00) ( subject to yearly CPI <br /> increase) or 11% of the adjusted yearly gross sales of the Tenant, whichever is <br /> greater and the initial yearly rent payment during the Extended Term is One <br /> Hundred Fifty Six Thousand and No/100 Dollars ($156,000.00) (or the yearly rent <br /> Ord -Diversified � <br /> 11/20/14 �Ca���( <br />