Current Consensus Items

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Date First Discussed	Proposed By	Informal Title	Summary	Author of this Record
6/04/19	Tyler Maran	Sign Lease for 668 Guerrer St.	Move NoiseBridge to 668 Guerrero St Noisebridge signs lease for 668 Guerrero St. Provisional Lease Details Video Tour Benefits 7,500 sqft (~50% increase from 5,200sqft at current) Ground floor entrance with garage door. ADA accessible. Concrete floors. Noisebridge would rent the entire building. Option to purchase (at $4.0mln + 1.3% step up/yr) for the duration of the lease term. 2.5 blocks from current NoiseBridge location. No disruption in Mission community. Still easy access to BART. Cleaner block and sidewalk Early move-in clause provides free rent from lease-signing date till lease-start date of 8//1/2019 Costs $10,000/mo for year 1. $1,000/mo rent step-ups per year (up to $13,000/mo in 4th year). $1.33/sqft/mo is a good below market rate, but a $3.500/m0 increase from our current location in first year Total cost for lease over 4 years: $552,000 Conditions We need more expert guidance around the permitting and zoning of 668 Guerrero in order to make an informed decision. Current permitting issues put 2169 occupancy at risk for $92,000, though Perkins Coie is reviewing Pro-bono Without clear plan to avoid fees, 668 Guerrero may be at similar, though lower cost, risk Our Perkins Coie advisor will come back at the 6/18/2019 meeting to share her findings. UPDATE THIS CONSENSUS ITEM APPROPRIATELY.