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City Council Meeting 03-23-99 Santa Monica, California
TO Mayor and City Council and
Members of the Parking Authonty
FROM City Attorney
SUBJECT Recommendation to Approve Assignment of Parking Lease
From 100 Wilshire Associates to Douglas Emmett Realty
Fund
Introduction
This staff report recommends adoption of the attached resolutions which give City Council
and Parking Authority approvals required for assignment of an eXisting parking lease
Adoption of these resolutions will authonze execution of consents to the assignment by the
City Council and Parking Authority
Background
On Apnl 23, 1968, the City of Santa Momca and the Parking Authonty entered Into Contract
Number 1828 (CCS) (the "Parking Lease") with Wilshire West Company, A Califorma
General Partnership, for the long term lease of a maximum of 320 parking spaces (and a
mlmmum of 265 parking spaces) located In the public parking structure situated on the east
side of Second Street between Anzona Avenue and Santa Monica Boulevard Wilshire
West Company required this parking to satisfy off-street parking reqUirements which were
anticipated to be generated by the occupants of the office and commercial complex
constructed by Wilshire West Company on real property It owned at 100 Wilshire Boulevard
In Santa Monica
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Ct:.. Pf1" /
MAR 2 3 1999
The Parkmg Lease has been assigned to new lessees on 5 separate occasions In
conjunction with the sale of the 100 Wilshire real property Each assignment has been
formally approved by the City Council and the Parking Authority by adoption of resolutions
and execution of consents to the particular assignment
DISCUSSion
100 Wilshire Associates has entered mto an Agreement of Purchase and Sale with Douglas
Emmett Realty Fund for the 100 and 120-130 Wilshire real property parcels Close of
escrow on thiS sale IS contingent upon the nghts under the Parking Lease being transferred
to the buyer The City recently received a request for consent to the assignment of the
Parking Lease from 100 Wilshire ASSOCiates to ItS buyer, Douglas Emmett Realty Fund,
a California Limited Partnership Section 2 05 of the Parking Lease prOVides that Lessee
may assign all or any part of ItS rights under the Parkmg Lease subject to first obtaining the
wntten consent of the City Section 2 06 of the Parking Lease prOVides that the City will act
promptly and reasonably and that ItS approval or consent Will not be unreasonably Withheld
or delayed
There appears to be no reason for the City Council to decline approval of the proposed
assignment to Douglas Emmett Realty Fund 100 Wilshire Associates will remain
responsible for all obligations arising pnor to the date of sale and conveyance of the 100
and 120-130 Wilshire real property parcels to Douglas Emmett Realty Fund Douglas
Emmett Realty will assume responsibility for all obligations ariSing under the Parking Lease
from and after the date of sale and conveyance of the 100 and 120-130 Wilshire real
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property parcels
Budget/Financial Impact
There IS no budget or financial Impact anticipated by the proposed assignment
Recommendation
City staff respectfully recommends that the City Council and the Parking Authority take the
following actions
1 Adopt the accompanYing City Council resolution which approves the
assignment of the Parking Lease from 100 Wilshire Associates to Douglas Emmett Realty
Fund and authorizes the City Manager to execute a Consent to Assignment
2 Adopt the accompanYing Parking Authority resolution which approves the
assignment of the Parking Lease from 100 Wilshire Associates to Douglas Emmett Realty
Fund and authorizes the Parking Authority's Executive Secretary to execute a Consent to
AssIgnment
Prepared By Joseph Lawrence, Acting City Attorney
Linda A Moxon, Deputy City Attorney
Attachments (1) City Council Resolution Approving Assignment
(2) Parking Authority Resolution Approving Assignment
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F IATTy\MUNI\LAWSIMOX\APPROVAL CC
City Council Meeting 03-23-99 Santa Monica, California
RESOLUTION NUMBER 9376 CCS
(City Council Senes)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA APPROVING AN ASSIGNMENT OF
CONTRACT NUMBER 1828 (CCS) FROM 100 WILSHIRE ASSOCIATES
TO DOUGLAS EMMETT REALTY FUND 1998
WHEREAS, the City of Santa Momca has leased certain real property as more
particularly desCribed In Contract Number 1828 (CCS), and any addendums thereto, and
WHEREAS. the current lessee IS 100 Wilshire Associates, a California Limited
Partnership, and
WHEREAS, the City of Santa Monica has received a request to approve an
assignment of the lease to Douglas Emmett Realty Fund 1998. a Califorma Limited
Partnership, and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS.
SECTION 1 The City Council of the City of Santa Monica approves the
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assignment of Contract Number 1828 (CCS), and any addendums thereto, from 100
Wilshire Associates, a California Limited Partnership, to Douglas Emmett Realty Fund
1998, a California limited Partnership, and authorizes the City Manager to execute a
Consent to ASSignment to the ASSignment and Assumption of Lessee's Interest In Parking
Lot Lease ( relating to Contract Number 1828 (CCS)) between 100 Wilshire ASSOCiates and
Douglas Emmett Realty Fund 1998
SECTION 2 The City Clerk shall certify to the adoption of thiS Resolution, and
thenceforth and thereafter the same shall be In full force and affect
APPROVED AS TO FORM
J::~ -
I, Y Attorney -
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'l
Adopted and approved this 23rd of March, 1999
1:;tV\CaZ1- -
P m O'Connor, Mayor
I, Mana M Stewart, City Clerk of the City of Santa Monica, do hereby certify that
the foregoing Resolution 9376 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 23rd of March, 1999 by the following vote
Ayes Councllmembers Feinstein, Genser. Holbrook, McKeown.
O'Connor, Rosenstein
Noes Councllmembers None
Abstain Councllmembers None
Absent Councllmembers None
ATTEST
~~~~
Mana M Stewart, City tlerk
F IATTy\MUNI\LAWS\MOXIAPPROVAL PA
City Council Meeting 03-23-99 Santa MOnica, California
RESOLUTION NUMBER 232 (PAS)
(Parking Authonty Senes)
A RESOLUTION OF THE PARKING AUTHORITY OF THE
CITY OF SANTA MONICA APPROVING AN ASSIGNMENT OF
CONTRACT NUMBER 1828 (CCS) FROM 100 WILSHIRE ASSOCIATES
TO DOUGLAS EMMETT REALTY FUND 1998
WHEREAS, the Parking Authonty of the City of Santa Monica has leased certain real
property as more particularly descnbed In Contract Number 1828 (CCS), and any
addendums thereto, and
WHEREAS ~J~,'/~ " .oclates, a California Limited
Partnership, and ~
~~~~'l''?
U ?JV
WHEREAS, tt ~ 1.- mca has received a request
to approve an asslgnl ~ :Ity Fund 1998, a California
Limited Partnership; ,
NOW, THEREFORE, THE PARKING AUTHORITY OF THE CITY OF SANTA
1
MONICA DOES RESOLVE AS FOllOWS
SECTION 1 The Parking Authority of the City of Santa MOnica approves the
assignment of Contract Number 1828 (CCS), and any addendums thereto, from 100
Wilshire Associates, a California limited Partnership, to Douglas Emmett Realty Fund
1998, a California limited Partnership, and authorizes the Executive Secretary to execute
a Consent to Assignment to the Assignment and Assumption of lessee's Interest IrJ
Parking lot lease (relating to Contract Number 1828 (CCS)) between 100 Wilshire
Associates and Douglas Emmett Realty Fund 1998
SECTION 2 The Executive Secretary shall certify to the adoption of thiS Resolution,
and thenceforth and thereafter the same shall be In full force and affect
APPROVED AS TO FORM
-#--~
,
Attorn for City of Santa MOnica
Parking AuthOrity
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.
,
Adopted and approved this 23rd dav of March. 1999
.~~~ l Gz11 --
Pam O'Connor. Chau
I herebv cernfv rhai rhe foregomg Resolunon No 232 (PAS) was duh' adopted at a
meenng of the Parkmg Aurhontv held on the 23rd dav of March, 1999 by the followmg yote
Ayes Agency Member Femsrem, Genser. Holbrook, McKeown. O'Connor.
Rosensrem
:-':oes Agency Member None
Absram Agency Member None
Absent Agency Member None
ATTEST.
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