[sudo-discuss] Omni Lease + Sudo Room Mtg tomorrow

-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Hey sudo! Listen up! For those unawares, we intend to be moving to 4799 Shattuck Ave next month [1]. We will be sharing a building with a slew of amazing groups, including the Bay Area Public School and Counter Culture Labs. We've been closing the deal for over a month now and doing a ton of self-organizing. It's been amazing to see this come together, for all its alternately exciting and at times stressful moments! Much incredibly difficult and valuable work negotiating this lease has been done by in particular David K, and with huge props to Niki, and the rest of the folks organizing finances, bringin' it to meetings, diving into working groups, and otherwise putting in some heart, soul, blood, sweat and tears. We are almost there! This is (hopefully) the final draft of the lease we'll be signing next week. You will need to request access to the doc, which has been requested to be kept confidential by the landlord, and is in a read-only Google Doc with Comments enabled: http://bit.ly/S6J62n Via Niki: "There are two docs in this folder that may preemptively address some concerns [Q&A & TLDR]. These are works in progress and will be updated as questions are asked / answered. Please refer to them!! A lot of the language in this lease is extremely scary and often seemingly contradictory. Such language is, in fact, standard for a triple net lease. Please withhold final judgement until you've expressed your concerns. [...] Not having to have a guarantor is a HUGE win for us and one of the biggest concessions made by John in exchange for any concessions we have made." Bring questions and input to the weekly meeting tomorrow, where we'll be going over it accompanied by our lawyer." - --------------------------------- Here is the TL;DR rundown: Sudo: * Half the 'bocce ball court' room * $2K/month Basics: * 3 year term * $13,00/month + triple net (insurance [Building + Business], property tax, maintenance [except for roof {covered for 2 years} + furnaces {4 furnaces, covered for 6 months}] * Option to extend 2 times * Move-in is July 1st, 2014 Deposit: * $5,000 initial deposit paid * + $40,000 more deposit (first [$10,000], last [$13,000], deposit [$27,000]) * Why is deposit so high? ** Extra deposit in lieu of a guarantor * We are getting $1,000 back each month for 13 months Rent: * First month (July): $10K * Second month: Free * Third month: $10K * Fourth month: $10K (unless owners move out by the beginning of this month) * Starting November 1 (or possibly October 1), rent will be $12K/month (including the gradual return of deposit at 1K/month) * Starting December 1, 2015 (or possibly November 1), rent will increase to $13K/month Option to Buy: * Good until July of 2017 * No one else can buy it during this period. * Renting price averages out to .60/sqft * Buying price is about $90/sqft - at 1.95 million. Signatories: * Individual representatives will sign on behalf of their group. * Only groups who are currently operational and whose commitment represents a significant portion of the total rent will sign: Bay Area Public School, Sudo Room, Counter Culture Labs, Timeless Infinite Light, & Livespace * Groups (not individuals) will be held liable for their portion of the rent for the duration of the lease. * Any group that stops paying rent and does not find a sublessor could potentially be sued by the owner for rent for the remainder of the lease. Capital Expenditures (9.3): * If we're required to make a capital expenditure to improve the property, John will reimburse us 50% of that cost up to $25,000 (was initially 50K, but reduced in lieu of a guarantor) Insurance: * We are responsible for Commercial General Liability. * Building Insurance is in Landlord's name, but we are to pay it (this is standard for triple net leases) * We must maintain our insurance or landlord can charge us 10% or $100 more monthly rent (without notice). Abatement of Rent: * If we're given a written requirement for expenditures over $100K, we can safely terminate the lease without additional costs. - ------ Please reply to this thread and otherwise discuss. We will also be discussing this at length tomorrow and making a consensus decision. *Important:* The Omni's lawyer, Jesse, will be joining us at the sudo room weekly meeting tomorrow (which starts at 7pm) - please be excellent and respect his valuable time! You can participate remotely by joining our riseup pad: http://pad.riseup.net/p/sudomni [1] You can get involved and learn more about the building and the groups that are apart of it, plus the working groups that have been forming, ideas on decision-making and other systems, at the wiki: http://wiki.omni-oakland.org Love, Jenny http://jennyryan.net http://sudomesh.org http://thevirtualcampfire.org http://technomadic.tumblr.com `~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~` "Technology is the campfire around which we tell our stories." - -Laurie Anderson "Storytelling reveals meaning without committing the error of defining it." -Hannah Arendt "To define is to kill. To suggest is to create." - -Stéphane Mallarmé ~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`