Current Consensus Items

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This is a page for hosting consensus items currently under debate, with their formal wording.

Is your consensus item still drafty, in need of much revision, and not something that you think people already can more or less agree with? Perhaps it belongs on the Draft Consensus Items page, instead?

The Consensus Items History is the public record of consensus items that have been decided on in the past. Please move the records from the "Current" page to the "History" page once they've been approved/blocked.

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 startingin 2020 + 3.0% step up/yr thereafter) 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).
Purchase option costs $10,000 first year, then $20,000 years 2 and 3.
$1.33/sqft/mo is a good below market rate, but a $3,500/mo increase from our current location in first year
Total cost for lease over 4 years: $552,000 + $50,000 in Options = $602,000
Renovations are expected to cost $50,000 in the first year, broker fees and other licensing expected to cost around $10,000
First year outlay: $205,000 = $120,000 in rent, $15,000 security, $20,000 fees and options, $50,000 renovations
Note this is $80,000 above our current yearly revenue, meaning we will draw $80,000 from saving, plus any additional moving or unexpected costs, and does not cover any operating expenses like utilities and other
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.
Noisebridge is reviewing current draft to make sure it is in line with Noisebridge Priorities
The property value is struck at $4,000,000, and we should be sure that price is worth $50,000 in options.

UPDATE THIS CONSENSUS ITEM APPROPRIATELY.