...Title
Hewlett Packard Ground Lease Termination.
...Recommendations
(a) Adopt a resolution authorizing the City Manager or designee to negotiate and execute a Third Amendment to the Ground Lease of Parcel W-9 Agreement with Hewlett Packard Enterprise Company to terminate the agreement early, effective upon execution by the City with a payment to Hewlett Packard Enterprise Company of $1,500,000.
(b) Adopt the following 2021-2022 Appropriation Ordinance Amendments in the Airport Renewal and Replacement Fund:
(1) Establish the Hewlett Packard Enterprise Lease Buyout appropriation to the Airport Department in the amount of $1,500,000; and
(2) Decrease the Ending Fund Balance in the amount of $1,500,000.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Airport/City Manager)