Title
Final Passage of Ordinance Approving the Lease Agreement for Six Years with Five Three-Year Options with Google Inc. in Building 11 Located at 1050 W. Tower Avenue and Building 19 Located at 2175 Monarch Street at Alameda Point. (Base Reuse 819099)
Body
CITY OF ALAMEDA ORDINANCE NO. ______
New Series
APPROVING A LEASE AND AUTHORIZING THE CITY MANAGER TO EXECUTE DOCUMENTS NECESSARY TO IMPLEMENT THE TERMS OF A LEASE AGREEMENT WITH GOOGLE INC FOR SIX YEARS WITH FIVE THREE-YEAR OPTIONS IN BUILDING 11 LOCATED AT 1050 W. TOWER AVENUE AND BUILDING 19 LOCATED AT 2175 MONARCH STREET AT ALAMEDA POINT
WHEREAS, the City of Alameda entered into a lease agreement for Building 19 in 2006 with Makani Power, a "start-up" company researching and developing new wind power technologies; and
WHEREAS, Makani Power was acquired by Google, Inc. in 2013; and
WHEREAS, Google would like to continue to lease Building 19 and an adjacent shed and also lease Building 11; and
WHEREAS, the proposed lease agreement with Google replaces the existing lease for Building 19 with Makani Power and adds Building 11 to the agreement; and
WHEREAS, Building 11 is approximately 110,561 square feet and Building 19 is approximately 16,888 square feet; and
WHEREAS, the rent under the proposed lease agreement will range from $55,205 to $62,134 over the six-year period; and
WHEREAS, the first 12 months of rent will be abated; and
WHEREAS, Google shall have five options to extent the term of the lease for a period of three years each (up to a total of 21 years, including original lease term); and
WHEREAS, the use for which the premises may be used by the tenant is for engineering, research and development, manufacturing and general office for Building 11 and general office for Building 19; and
WHEREAS, the Lease grants certain licenses for specified nonexclusive and exclusive uses of the land and parking...
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