PANORAMA CITY : Board to Extend Welfare Office Lease

Los Angeles County supervisors on Tuesday agreed to a 10-year lease extension for the east San Fernando Valley welfare office and indicated that the county may want to buy the building that houses the office at the end of that time.

Under the terms of the extension, the rent paid for the Department of Public Social Services office at 14545 Lanark St. in Panorama City will increase from $6,750 monthly to $7,300. The higher figure reflects the additional expense of taxes and insurance costs, which the county agreed to assume.

The county’s share of the lease, which is subsidized by the state and federal governments, will be about $15,400 annually. Even the higher amount is far less than market rates. A county analysis found that similar rents were being charged for buildings less than a quarter the size of the 50,000-square-foot welfare office.

During the final six months of the 10-year contract, the county will have the option of purchasing the property for $750,000. The building was constructed in 1967 for the county’s use.