1 David Yakobson
From: Connor Webb <[email protected]>
Sent: Tuesday, September 30, 2025 11:36 AM
To: councilmtgitems; Barry Snell; Jesse Zwick; Dan Hall; Lana Negrete; Natalya Zernitskaya; Caroline Torosis; Ellis Raskin
Subject: 4H: Oppose Long-Term Bank of America Lease Extension at 4th & Arizona
EXTERNAL
Dear Council,
Please reject the proposal to extend the lease for Bank of America until December 31, 2028.
Extending the lease would ensure that no housing construction will begin at 4th & Arizona until 2029. By agreeing to these terms, the city is essentially throwing in the towel on expediting the project. Mid2028 is three years away, which is not outside the possibility of construction if the city takes prompt action to move the project forward.
Instead, Council should direct staff to return with a revised proposal to extend the B of A lease until December 31, 2027, with four one-year options, rather than the proposed three one-year options for December 31, 2028. Given the expressed desire of BofA to remain in this location, the decision to offer a two-year base lease rather than a three-year base should not pose any significant challenges for any party involved, while giving the city an opportunity to expedite housing at 4th & Arizona.
Thank you,
Connor Webb
90404
Item 4-H
September 30, 2025
Item 4-H
September 30, 2025
1 David Yakobson
From: Sam Shapiro-Kline <[email protected]>
Sent: Friday, September 26, 2025 2:56 PM
To: councilmtgitems; Dan Hall; Barry Snell; Ellis Raskin; Natalya Zernitskaya; Caroline Torosis; Jesse Zwick; Lana Negrete; Oliver Chi
Subject: 4H: Oppose Long-Term BofA Extension at 4th Arizona
EXTERNAL
Council,
Please reject the proposal to extend the lease for Bank of America until December 31, 2028. Extending the lease would guarantee that no housing moves forward at 4th and Arizona until 2029. While a tighter timeline to begin construction may be optimistic, mid-2028 is 3 years away, which is not beyond the possibility of being achieved if the city acts quickly to move forward the 4/AZ project.
Instead, staff should come back with a proposal to extend the BofA lease until 12/31/2027, with 4 1 year options, rather than 12/312028 with 3 1 year options. Given the communicated desire of BofA to stay in this location, the choice to offer a 2 year base lease rather than 3 year base should not be problematic.
Thanks,
Sam Shapiro-Kline
Item 4-H
September 30, 2025
Item 4-H
September 30, 2025