Title
Introduction of Ordinance Approving a First Amendment to a Lease and Authorizing the City Manager to Execute the Amended Lease Agreement with Kai Concepts, LLC, for Building 168, Suite 300, Located at 1651 Viking Street at Alameda Point. [In accordance with the California Environmental Quality Act (CEQA), this project is Categorically Exempt Under CEQA Guidelines Section 15301(c) - Existing Facilities.] [Requires Four Affirmative Votes] (Community Development 819099)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
This action will introduce an ordinance authorizing an extension of the Lease term for Kai Concepts, LLC (Kai) for an additional 36 months for monthly rent of $16,609.00-$17,754.32 for a portion of Building 168, including approximately 28,636 square feet of interior space and approximately 17,270 square feet of land, at Alameda Point (1651 Viking Street, Suite 300).
BACKGROUND
Kai is the home of the Kiteboat Project, where a team of marine architects, sailors, and software developers are building and testing kites for large-scale propulsion in waterborne transportation. To date, kite propulsion has primarily been used for kitesur?ng and in single-person traction kiting. In small-scale kiting, the force of the kite can be controlled by an individual holding on to the kite directly, but as the kite gets larger, harnessing its power becomes more difficult. The Kiteboat Project's mission is to design a purpose-built vessel that is specifically designed to harness kite power and to advance kite design and kite controls to the point that power-assisted or autonomously controlled kites can be used by a broad audience.
Kai has occupied Building 168 since May 8, 2013. The term of the current Lease expires on July 31, 2019, so this Lease amendment is intended to retain an existing tenant. The First Amendment extends the term of the current Lease by thirty-six months.
DISCUSSION
This action requires City Council approval ...
Click here for full text