Title
Adoption of Resolution Approving a Third Amendment to a Sublease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a Third Amendment to a Sublease with SBA 2012 TC Assets, a Delaware Limited Liability Company, to Include Two Additional Five-Year Terms With an Annual 3% Consumer Price Index (CPI) Increase for Use of a Portion of Building 624 Located at 625 West Ranger Avenue at Alameda Point. [In accordance with the California Environmental Quality Act (CEQA), this project is Categorically Exempt under the CEQA Guidelines Section 15301(c) - Existing Facilities.] [Requires Four Affirmative Votes] (Base Reuse 819099)
Body
To: Honorable Mayor and Members of the City Council
From: Jill Keimach, City Manager
Re: Adoption of Resolution Approving a Third Amendment to a Sublease and Authorizing the City Manager to Execute Documents Necessary to Implement the Terms of a Third Amendment to a Sublease with SBA 2012 TC Assets, a Delaware Limited Liability Company, to Include Two Additional Five-Year Terms With an Annual 3% CPI Increase for Use of a Portion of Building 624 Located at 625 West Ranger Avenue at Alameda Point.
BACKGROUND
SBA 2012 TC Assets (TC Assets) has been a Subtenant at Alameda Point since October 1, 2000 and specializes in wireless and cellular service. TC Assets intends to continue using a small portion of the Building 624 for the installation and maintenance of cell towers and related equipment.
TC Assets is currently under a second amendment to their sublease agreement for use of Building 624 dated June 2016. The term of that second sublease will expire September 30, 2021 and the first additional term under this third amendment will commence October 1, 2021. Although the current sublease will expire in 2021, this third amendment is being done in advance because leases with cellular carriers require 5-year increments; because of this reason, it is preferable for cell tower companies to have term...
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