Agenda

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C. 29

To:	Board of Supervisors
From:	Keith Freitas, Airports Director
Date:	January 12, 2010

Contra

Costa

County

Subject:

APPROVE AND AUTHORIZE LEASE TERMINATION AGREEMENT

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 01/12/2010

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Gayle B. Uilkema, District II Supervisor
Mary N. Piepho, District III Supervisor
Susan A. Bonilla, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Beth Lee (925) 646-5722

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: January 12, 2010
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Director of Airports, or designee, to EXECUTE, on behalf of the County, a Lease Termination Agreement between the County, as landlord, and the JR Leasing, Inc., for 5400 Marsh Drive, Buchanan Field Airport. Concord Area

FISCAL IMPACT:

There is no fiscal impact on the General Fund.

BACKGROUND:

The County and JR Leasing, Inc. are parties to a lease dated December 20, 1994 under which JR Leasing has leased the property located at 5400 Marsh Drive in Concord, California (the “Lease”). Under its terms, the Lease will terminate on March 31, 2012. JR Leasing has conducted the sale of used cars from the site. Due to the adverse economic impacts on car companies, JR Leasing, Inc. has had two years of significant financial loss and is no longer able to stay in business. As a result, JR Leasing, Inc. closed their business in November 2009 and then asked the County to terminate the Lease effective December 1, 2009. In consideration for early lease termination, JR Leasing, Inc. has offered to assign the two commercial modular units located on the site, and all contents of those units, to the County in accordance with the attached Bill of Sale. By agreeing to the early termination of the Lease, the County will be able to proceed to identify other potential lessees of the site and to enter into a replacement lease.