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Item number 7, resolution authorizing the general manager of the Public Utilities commission to execute a 20year lease, for 52,324 annually with an annual increase of 4 percent, with Los Altos Hotel associates, llc, for approximately 47,916 square feet of land known as Bay Division Pipelines 3 and 4, parcel no. 232a, located in the city of los altos, santa clara county, california, for Hotel Parking and recreation purposes. Thank you very much. We have the puc here. Good afternoon, chair farrell, members of the committee. John updike, director of real estate. So, this item is a lease of just over one acre of land owned by the sfpuc under their Bay Division Pipeline 3 of 4 rightofway in the city of los altos shown on the map here. It adjoins a marriott residence inn. That address is 44 60 el camino real. So, this gives you a detailed look at the area. The lease is with Los Altos Hotel associates, llc, it is for a term of 20 years. Its an existing parking lot. It was a prior lease of 10

Calaveras damUnited statesHetch hetchy reservoirSanta clara countySan francisco bayCalaveras reservoirEl caminoSan franciscoHarry tracyJulie labonteAndrew ross sorkinSanta claraJohn updikeKen howardPublic utilitiesPublic utilities commission