Title
Final Passage of Ordinance Authorizing the City Manager to Execute a Lease with Poseidon Tech Corporation, a Delaware Corporation, for a Term of Seven Years, with Two Additional Five-Year Extension Options for Building 11, Located at 1190 West Tower Avenue, at Alameda Point. [Requires four affirmative votes]
This action is categorically exempt from further environmental review pursuant to California Environmental Quality Act Guidelines Section 15301 (Existing Facilities). (Base Reuse and Economic Development 29061822)
Body
The staff report for this ordinance was included when the ordinance was introduced and is available at the following link:
https://alameda.legistar.com/LegislationDetail.aspx?ID=8283390&GUID=92C28E79-8A8F-43C2-985D-79D60782A26C&Options=&Search=&FullText=1
This ordinance was not revised when it was introduced.
Full text of the ordinance:
CITY OF ALAMEDA ORDINANCE NO. _____
AUTHORIZING THE CITY MANAGER TO EXECUTE A LEASE WITH POSEIDON TECH CORPORATION, A DELAWARE CORPORATION, FOR A TERM OF SEVEN YEARS, WITH TWO ADDITIONAL FIVE-YEAR EXTENSION OPTIONS FOR BUILDING 11, LOCATED AT 1190 WEST TOWER AVENUE, AT ALAMEDA POINT
WHEREAS, City-owned Building 11, 1190 West Tower Avenue, (the “Premises”) consists of approximately 110,561 square feet of rentable space that has been unleased since 2020; and
WHEREAS, Poseidon Tech Corporation, a Delaware Corporation (“Poseidon”), was founded in 2023 in San Francisco, and develops autonomous aircraft, including autonomous seaplanes; and
WHEREAS, the City and Poseidon have negotiated a lease with an initial term of seven (7) years with two (2) options to extend the term for an additional five (5) years (up to a total of 17 years including the original lease term); and
WHEREAS, the permitted uses under the lease are general office, research and development, light manufacturing and assembly of autonomous aircraft and related components, ancillary storage, and staging of finished aircraft for...
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