Title
Introduction of Ordinance Authorizing the City Manager to Execute a Fourth Lease Amendment with Auctions by the Bay, Inc., for Building 20, Located at 2701 Monarch Street at Alameda Point for an Eleven-Month Extension to the Rent Relief Program Deferred Rent Repayment Schedule. [Requires 4 affirmative votes]
In accordance with California Environmental Quality Act (CEQA), this action is categorically exempt from further environmental review pursuant to CEQA Guidelines Section 15301 (Existing Facilities). (Base Reuse and Economic Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
Auctions by the Bay, Inc. DBA Michaan's Auctions (Michaan's) currently holds a lease for Building 20, located at 2701 Monarch Street which is a 63,972 square foot hangar at Alameda Point (Premises). Michaan's is a full-service auction house, specializing in the appraisal and sale of antiques and fine art. The City of Alameda (City) entered into the current lease agreement (Lease), on May 1, 2012, and the parties executed three subsequent amendments to the Lease, as detailed further below.
Staff recommends that City Council authorize the City Manager to execute a Fourth Amendment to the Lease with Michaan's, providing additional time to repay a remaining balance of $77,739.73 in deferred rent from 2020 incurred by their participation in the City's Rent Relief Program offered in response to the Covid-19 pandemic.
BACKGROUND
Established in 2002, Michaan's hosts around 30 auction sales each year at their Alameda Point location, drawing consigners and buyers from the greater bay area and around the country. Michaan's utilizes Building 20 as a venue for pre-sale viewing of antiques, hosting the in-person and online hybrid auctions. Adjacent to Building 20, along the "Northwest Territories Runway", Michaan's also hosts the monthly Alameda Antiques Faire, the largest antiques show in Northern California...
Click here for full text