Official text

Approval by the Board of Education of a Fifth Amendment, Lease Agreement by and between the Oakland Unified School District (“District) as lessee, and Sparknight, LLC, a Florida limited liability company, as lessor (“Lessor”), for space within the building located at 1000 Broadway, Oakland, CA 94607, commonly known as the Transpacific Centre, in which the District and Lessor propose to: (1) further extend the termination date of the Original Lease, as amended, by one year to August 31, 2023; (2) reduce the premises rented by the District from Lessor by calling for the District to surrender Suite 300 back to the Lessor; (3) establish the amount of monthly base rent to be owed by the District to the Lessor; (4) describe the District’s and Lessor’s rights and obligations with regard to certain move‐out and close‐out procedures to be performed by District with regard to Suite 300; (5) grant the District the option to extend the termination date of the Lease by one additional period of six months; and (6) modify the rights of the District to parking at the Property, for $2,501,550.00 total annual rent under the Fifth Amendment, for the term of September 1, 2022 through August 31, 2023.