pages: CityCouncil/2013-04-16.pdf, 13
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CityCouncil | 2013-04-16 | 13 | requires creativity; staff is hiring an architect to review dividing some of the buildings to allow multiple tenants; short term tenants, such as the America's Cup teams, will be gone in the fall; most small spaces at Alameda Point are already leased; that she would provide a more detailed report to answer the question based on square footage. Vice Mayor Ezzy Ashcraft moved introduction of the ordinance. Councilmember Chen seconded the motion, which carried by unanimous voice vote - 5. (13-177) Introduction of Ordinance Approving a Lease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a Lease with Auctions by the Bay, Inc. for Five Years in Building 525 Located at 2751 Todd Street at Alameda Point. Introduced. The Economic Development Division Manager gave a brief presentation. Mayor Gilmore inquired whether the tenant has insurance covering the building's contents, to which the Economic Development Division Manager responded in the affirmative. Councilmember Tam moved introduction of the ordinance. Councilmember Daysog seconded the motion, which carried by unanimous voice vote - 5. (13-178) Introduction of Ordinance Approving a Lease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a Lease Amendment with Auctions by the Bay, Inc. for Ten Years with an Additional Option of Ten Years in Building 20 Located at 2701 Monarch Street at Alameda Point. Introduced. The Economic Development Division Manager gave a Power Point presentation. Vice Mayor Ezzy Ashcraft inquired whether the tenant invested nearly $1 million in upgrades, to which the Economic Development Division Manager responded in the affirmative. Councilmember Tam noted tenants need enough time to recoup investments when making significant improvements; inquired what happened to recapturing investment costs on the theater improvements. The Economic Development Division Manager responded the matter is complicated; stated staff is dismantling the current deal and transitioning to a purchase option with the tenant; the tenant has some credit for building improvements; negotiations are addressing the value of the improvements, which will be used as a credit to the purchase price in the future so the City does not have to put any cash into the Regular Meeting Alameda City Council 13 April 16, 2013 | CityCouncil/2013-04-16.pdf |