Title
Final Passage of Ordinance Authorizing the City Manager to Execute a Third Lease Amendment with Faction Brewing Company, LLC, a California Limited Liability Company for Building 22, Suite 200, Located at 2501 Monarch Street at Alameda Point. [Requires 4 affirmative votes] (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=8185603&GUID=341579E0-8682-4F51-81AB-5A17F8B9EAE2&Options=&Search=&FullText=1
This ordinance was not revised when it was introduced.
Full text of the ordinance:
CITY OF ALAMEDA ORDINANCE NO. _____
New Series
AUTHORIZING THE CITY MANAGER TO EXECUTE A THIRD LEASE AMENDMENT WITH FACTION BREWING COMPANY, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY FOR BUILDING 22, SUITE 200, LOCATED AT 2501 MONARCH STREET AT ALAMEDA POINT
WHEREAS, Faction Brewing Company, LLC is a brewery led by a team with extensive brewing experience throughout Northern California and produces a variety of beers which include Pale Ale, IPA, Red, Pilsner, and Stout; and
WHEREAS, Faction Brewing Company, LLC entered into a lease agreement with the City of Alameda to occupy Suite 200 of Building 22 in 2012 and has been open to the public since early 2013; and
WHEREAS, Building 22, Suite 200 consists of approximately 32,500 square feet of rentable square feet; and
WHEREAS, in 2020 the City Council approved a nine-month rent deferral program for eight businesses at Spirits Alley, including Faction Brewing Company, LLC, that was memorialized as the First Amendment to its lease, and Faction Brewing Company, LLC, made all of those rent deferral payments according to schedule or early; and
WHEREAS, Faction Brewing Company, LLC has experienced unusual economic hardships since 2023, and has sought an extended repayment plan for its rental obligations; and
WHEREAS, in 2024, City Council appro...
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