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White Cap Sublease — Beecher St. 2 September 6, 2011 <br />thereafter based upon the change in the annual Consumer Price Index, All Urban Consumers <br />(San Francisco - Oakland -San Jose). <br />Previous City Council Action(s) <br />• On May 21, 1984 by Resolution No. 84 -91, the City Council approved an agreement with the <br />State of California Department of Transportation for a 99 -year Airspace Ground Lease <br />• On December 15, 2003 by Resolution No. 2003 -249, the City Council authorized a five -year <br />extension of the original ten -year sublease agreement with TransBox Systems <br />Fiscal Impact <br />The amount of re nue to the City will be $7,200 annually during the 5 -year term of the <br />sublease. e <br />James H q Leary, <br />CONCLUSION <br />Finance Director <br />Staff recommends that the City Council authorize a five -year sublease with an option for a five - <br />year extension with White Cap Construction Supply for the sublease of airspace under the <br />overpass of Davis Street at Beecher Street, commonly referred to as Freeway Lease Area No. 04- <br />ALA- 112 -01. <br />GACouncil Items In Process \SEP 06 \Beecher St Overpass Lease - AGRMT \Beecher Street Overpass Lease White Cap MEM.Doc <br />