Title
Introduction of Ordinance Approving a Lease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a Lease with Navigator Systems For Seven Years with an Additional Five Year Option in Building 14 Located at 1800 Ferry Point at Alameda Point. (Base Reuse 819099)
Body
To: Honorable Mayor and Members of the City Council
From: John A. Russo, City Manager
Re: Introduce an Ordinance Approving a Lease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a Lease with Navigator Systems For Seven Years with an Additional Five Year Option in Building 14 Located at 1800 Ferry Point at Alameda Point
BACKGROUND
Navigator Systems is one of the original tenants at Alameda Point executing their first lease in January 1997. Originally, the lease was for the tenant to make furniture and was a location for a local craftsman to create, showcase and sell products. Over the years, the space has attracted other artisans and local makers who need space for creativity and production.
DISCUSSION
While this lease was not up for renewal, it represents retention of an existing tenant and acknowledgement that the City is committed to local artisans and crafts persons who need creative space and an area for production. The City hopes to offer Navigators, on an as-needed basis, space for outdoor activities and exhibits as Alameda Point becomes more populated and developed into a "gathering place" for residents and visitors.
Navigators Systems is an incubator environment to provide productive, collaborative and promotional facilities for designers, craft workers, artists, engineers, musical instrument restoration specialists, and light artisanal manufacturing.
The proposed rent structure for the lease is:
Base Rent:
Months
Annual Base Rate
Monthly Base Rent
1 - 24
$89,880
$7,490*
25 - 36
$92,124
$7,677
37 - 48
$94,428
$7,869
49 - 66
$96,792
$8,066
61 - 72
$99,216
$8,26...
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