File #: File ID 6695    Version: 1 Name:
Type: Addendum Status: Approved
File created: 10/13/2016 In control: County Administrator
On agenda: 10/18/2016 Final action: 10/18/2016
Title: Vector Space Systems, Inc. Rocket Manufacturing Center in the County's Aerospace, Defense and Technology Business and Research Park Staff recommends approval to enter into negotiations for a concept where the County will enter into a 15- to 25-year lease with either Vector Space Systems, Inc. or a developer who will construct and lease the facility to Vector. Such a lease would be a straight market rate ground lease covering all of the County's development costs, with a straight-line amortization over the period of the lease. The negotiated lease would be presented to the Board of Supervisors for final approval.
Attachments: 1. CA_VectorSpaceSystems_Part1, 2. CA_VectorSpaceSystems_Part2, 3. CA_VectorSpaceSystems_CAMemorandum_10-17-16, 4. CA_VectorSpaceSystems_CAMemorandum_AdditionalAnnouncement_10-17-16

Title

Vector Space Systems, Inc. Rocket Manufacturing Center in the County’s Aerospace, Defense and Technology Business and Research Park

Staff recommends approval to enter into negotiations for a concept where the County will enter into a 15- to 25-year lease with either Vector Space Systems, Inc. or a developer who will construct and lease the facility to Vector. Such a lease would be a straight market rate ground lease covering all of the County’s development costs, with a straight-line amortization over the period of the lease. The negotiated lease would be presented to the Board of Supervisors for final approval.