Legislation Details

File #: 26-263    Version: 1 Name:
Type: Discussion/Action Item Status: Agenda Ready
File created: 10/12/2026 In control: City Council
On agenda: 10/27/2026 Final action:
Title: Resolutions of the Hercules Public Financing Authority and City Council approving amendments to an existing ground lease, lease agreement, and assignment agreement and authorizing the execution and delivery of documents related to the release of certain leased property at 111 Civic Drive, APN 406-150-015-5, and authorizing the City Manager to execute a site lease with TVT III, LLC (DBA Tower Ventures), at 111 Civic Drive, APN 406-150-015-5. RECOMMENDATION: City Council and Hercules Public Financing Authority joint action: 1. Approve a First Amendment to that certain Lease Agreement by and between the City of Hercules and the Hercules Public Financing Authority dated August 1, 2020; 2. Approve a First Amendment to that certain Ground Lease Agreement by and between the City of Hercules and the Hercules Public Financing Authority dated August 1, 2020; 3. Authorize the City Manager of the City of Hercules and the Executive Director of the Hercules Public Financing Authority to execute doc...
Attachments: 1. Staff Report, 2. Attach 1 - HPFA Resolution, 3. Attach 2 - CC Resolution, 4. Attach 3A - City Certificate - Property Release, 5. Attach 3B - First Amendment to Assignment Agreement, 6. Attach 3C - First Amendment to Ground Lease, 7. Attach 3D - First Amendment to Lease Agreement, 8. Attach 3E - First Supplement to Indenture Hercules 2020 Lease Revenue Refunding Bond, 9. Attach 4 - CC Resolution - Site Lease, 10. Exhibit A - Signed Site Lease
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Title

Resolutions of the Hercules Public Financing Authority and City Council approving amendments to an existing ground lease, lease agreement, and assignment agreement and authorizing the execution and delivery of documents related to the release of certain leased property at 111 Civic Drive, APN 406-150-015-5, and authorizing the City Manager to execute a site lease with TVT III, LLC (DBA Tower Ventures), at 111 Civic Drive, APN 406-150-015-5.

RECOMMENDATION:

City Council and Hercules Public Financing Authority joint action:

1. Approve a First Amendment to that certain Lease Agreement by and between the City of Hercules and the Hercules Public Financing Authority dated August 1, 2020;

2. Approve a First Amendment to that certain Ground Lease Agreement by and between the City of Hercules and the Hercules Public Financing Authority dated August 1, 2020;

3. Authorize the City Manager of the City of Hercules and the Executive Director of the Hercules Public Financing Authority to execute documents in connection with the portion of the leased property being released from the preceding agreements, including but not limited to execution of a site lease by and between the City of Hercules and TVT III, LLC.