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WHEREAS, the purposes and work of Bandwidth are of interest and benefit to, and will promote the <br />general welfare of the residents of San Leandro; and <br />WHEREAS, the City desires to lease the City -owned land to Bandwidth, and Bandwidth desires to lease <br />from the City the City -owned by execution of the Lease Agreement in the form attached to this Resolution, <br />and as detailed in the Staff Report accompanying this Resolution; and <br />WHEREAS, under the Lease, Bandwidth will pay the City an annual rental fee in the amount of $5 per <br />linear foot for the submerged land for the twenty-five (25) year term of the Lease and such rental amount will be <br />adjusted annually in accordance with the CPI; and <br />WHEREAS, under the Agreement, Bandwidth will pay the City an annual rental fee in the amount of $8 <br />per linear foot for the first year of the Lease for the terrestrial portion of the Project and conduct a formal <br />appraisal within one (1) year of the effective date of the Lease and adjust the rental amount accordingly if <br />justified by the appraisal; and <br />WHEREAS, additionally, Bandwidth agrees to install city conduits and vaults along Lewelling Boulevard <br />and Wicks Boulevard represented as segments 7 and 8 of the attached Exhibit B of the Lease Agreement at an <br />estimated value of $549,334.50. <br />NOW, THEREFORE, the City Council of the City of San Leandro finds that the foregoing recitals are true <br />and correct and are made a part of this Resolution and does RESOLVE as follows: <br />1. Approves the form of the Lease, attached hereto and incorporated herein as Exhibit A. <br />2. Authorizes the City Manager to execute the Lease, subject to any modifications, corrections, <br />and clarifications approved by the City Attorney. <br />3. Authorizes the City Manager to take any other related action reasonably necessary to further <br />the intent of this Resolution. <br />Introduced by Councilmember Aguilar and passed and adopted this 181" day of September 2023, by the <br />following vote: <br />AYES: Councilmembers Aguilar, Azevedo, Ballew, Bowen, Reynes, Simon, and Mayor Gonzalez (7) <br />NOES: None (0) <br />ABSENT: None (0) <br />ATTEST: <br />Ke ly B. Fancy, CMC <br />City Clerk <br />