December 6, 2022
Economic Development
DATE: December 6, 2022
TO: Mayor Butt and Members of the City Council
FROM: Gabino Arredondo, Project Manger
Craig Murray, Development Project Manager II
Subject:
Richmond Promise Lease
FINANCIAL IMPACT: Per the lease terms, Richmond Promise will pay the new rate of $799.20 per month, which is the increased rental amount from the original amount of $773. The increased
amount is retroactive to March 1, 2022. (01917090-
362801).
PREVIOUS COUNCIL
ACTION:
March 20, 2018
STATEMENT OF THE
ISSUE:
Richmond Promise requested that the City of Richmond
consider approval of a new lease agreement with
Richmond Promise for the continued use of office space
at 440 Civic Center Plaza. City staff is requesting
approval of a lease agreement for this purpose.
RECOMMENDED ACTION:
APPROVE a lease with Richmond Promise, a
community-wide college scholarship fund and college
success initiative, for the use of approximately 592
square feet of office space at 440 Civic Center Plaza at a rate of $799.20 per month ($9,590.40 per year), for a
three-year term from March 1, 2022, through January 2,
2025, with options to extend the lease term for two
additional one year periods – City Manager’s Office
(Craig Murray 621-1612).
AGENDA
REPORT
December 6, 2022
DISCUSSION:
City staff is recommending City Council approval of a lease agreement with Richmond Promise for use of office space at 440 Civic Center Plaza. Richmond Promise is currently utilizing approximately 592 square feet of office space inclusive of one office and eight cubicles at 440 Civic Center (2nd Floor). Richmond Promise has leased office space at 440 Civic Center Plaza since January 1, 2017. The original lease expired February 28, 2022. City staff is now requesting a new lease agreement, which will be backdated to March 1, 2022. The new lease provides that Richmond Promise pay $799.20 per month, which is an increase from the $773 prior rental amount.
The new rental amount is on par with the rental amount paid by other tenants in 440 Civic Center Plaza for office space. The City currently leases office space at 440 Civic Center Plaza to the National Park Service (Rosie the Riveter World War II Home Front National Historic Park) and to the federal government for the district office of Congressman Mark DeSaulnier.
Launched in January 2016, Richmond Promise is a community-wide college scholarship fund and college success initiative to build a college graduating culture in Richmond.
The cornerstone of Richmond Promise is a $1,500 community-wide scholarship initiated by a 10-year, $35 million seed-investment from the Environmental and Community Investment Agreement (ECIA) with the City of Richmond. Richmond Promise has served 2,200 students with scholarships.
Richmond Promise is a 501(c)(3) charitable organization with institutional partnerships with the City of Richmond, the West Contra Costa Unified School District, Contra Costa College, University of California, and California State University systems. Richmond Promise desires to increase the number of students, particularly who are low-income and first in their family to go to college, who:
1. Are exposed to college resources, role models, and experiences throughout K-
16. 2. Successfully transition to an accredited university/college directly from high school.
3. Successfully transfer from community college to 4-year university.
4. Complete an associate degree, bachelor’s degree, or career + technical education.
DOCUMENTS ATTACHED:
Attachment 1 – Lease Agreement