The City Council approved a new lease agreement between the City of Los Angeles and Main Street Office Partners LLC for approximately 75,000 square feet of office space at 200 North Main Street. This lease is for a period of ten (10) years with an option to extend for an additional five (5) years. The property will continue to be used by various City departments, including the Department of City Planning and the Housing Department. The agreement includes provisions for tenant improvements to optimize the space for City use. The total estimated lease value over the initial ten-year term is $37,500,000, which includes rent, operating expenses, and tenant improvements.