Historical Resolution Tracking Feature » 2007-08-14 - Approval of the Board Finance Committees Recommendation regarding Marina del Rey Sub-Lease Amendments
Important note: The explanatory text provided through this database (including the summary, implementation actions, identification of related resolutions, and additional information) is an interpretation or an explanation that has no official authority and does not represent the purpose behind the Board actions, nor does any explanations or interpretations modify or override the Resolutions themselves. Resolutions can only be modified through further act of the ICANN Board.
2007-08-14 - Approval of the Board Finance Committees Recommendation regarding Marina del Rey Sub-Lease Amendments
Board authorizes the CEO and COO to negotiate and execute sublease amendments for extending and expanding office space until June 30, 2012.
- Negotiate and execute sublease amendments.
- Responsible entity: CEO and COO
- Due date: None provided
- Completion date: 2007
Whereas, the lease for facilities for ICANN's Marina del Rey operations terminate in 2007, and
Whereas, the board approved in April 2007, the Staff to negotiate a new facility lease for ICANN for a term of three to six years and for a cost of up to $56,000 per month, and
Whereas, the current sublease at 4676 Admiralty Way, Marina Del Rey building on the 3rd floor is with USC who is a major tenant of the building, has a master lease agreement with the owners of the building until June 30, 2012, and is willing to work with ICANN to negotiate extensions and expansions to the current subleases, and
Whereas, staff has determined that additional space is available to ICANN in the 4676 Admiralty Way Building on the 8th floor and the rental rates will be similar to those charged on the 3rd floor space, and
Whereas, staff has determined that ICANN's operations can be most efficiently executed by extending the sublease on the 3rd floor space, and subleasing the 8th floor space, and
Resolved (07.61) that ICANN Board authorizes the CEO and COO (or either of them) to negotiate and execute sublease amendments for extending the 3rd floor space until June 30, 2012 and expand on to the 8th floor from January 2008 until June 30, 2012.
- The resolution does not address funding for the items identified therein.