NON-RESIDENTIAL INTERIM LEASING POLICY

The Non-Residential Interim Leasing Policy is designed to expedite leasing of selected buildings and is intended to apply to space offered for lease terms of fewer than five years.

The objectives of the interim leasing policy are:

• To preserve vacant or underutilized buildings through occupancy.
• To repair structures without substantial change to the historic fabric.
• To provide short-term use prior to the determination of permanent use of buildings by the on-going implementation planning process.
• To generate revenue for Trust operations.
• To provide a market-responsive leasing process.

To meet these objectives, the Non-Residential Interim Leasing Program authorizes limited leasing without undertaking the Request for Qualifications process outlined in the Trust's Non-Residential Real Estate Policy.

LEASE OFFERINGS

The Board of Directors authorizes those buildings identified by the Board's Real Estate Committee to be offered under the Non-Residential Interim Leasing Program based on market demand, building preservation requirements and planning considerations. The Board authorizes the Real Estate Committee to establish the minimum business terms for each offering including rental rate, lease term and allowed uses.

Reasonable competition and public outreach are to be achieved by publishing notice of and sending announcements of offerings to interested parties. The distribution of the offering will include for-profit and not-for-profit tenant and business communities, and businesses and organizations owned and operated by women and members of minority groups.

TENANT SELECTION PROCESS

Subject to policies that may be adopted by the Board from time to time, staff will publish an announcement of one or more lease opportunities seeking qualified tenants proposing uses consistent with the provisions of the Trust Act and the general objectives of the General Management Plan Amendment for the Presidio (GMPA).

Prospective tenants respond to the offering in the manner designated by the Trust.

Tenant minimum selection criteria for interim leasing include:

• Compatibility with the Trust Act and the general objectives of the GMPA.
• Meeting or exceeding minimum business terms.
• Demonstration of financial capacity.
• Effectiveness of proposed traffic mitigation measures.

Staff will evaluate and measure all submissions against the selection criteria to identify the top prospects. Staff will negotiate with the selected applicants to reach agreement on business terms. The Executive Director is authorized to enter into a lease that meets or exceeds the minimum business terms established by the Board's Real Estate Committee. Staff may seek the Board's Real Estate Committee approval to enter into a lease on terms other than those established by the Committee. In all cases, the Board of Directors shall be advised of any proposed use other than general office space prior to the Trust's execution of a lease.

The Trust may reject any and all proposals at the discretion of the Executive Director.