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Title
Adoption of Resolution Authorizing the Interim City Manager, or Designee, to Execute a Fourth Amendment to the License with Amber Kinetics, Inc., a California Corporation, to Extend the License Term for Twelve Months for the Unimproved Lot Located at 641 West Red Line Avenue, Alameda, CA. (Community Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
The requested action would (i) authorize execution of a fourth amendment to the license dated April 1, 2014, as amended (License), with Amber Kinetics, Inc. (Amber Kinetics) to extend the license term for twelve (12) months, with one 12-month renewal option subject to approval of the Interim City Manager or designee, and (ii) establish monthly rent during the extended term for the unimproved lot located at 641 West Red Line Avenue, consisting of approximately 10,000 square feet of rentable land at Alameda Point (Premises [Exhibit 1]).
BACKGROUND
Amber Kinetics is a manufacturer of energy storage technologies with a mission to accelerate the world towards safer, more cost-effective, and environmentally sustainable solutions for storing energy. In 2014, the City of Alameda (City) and Amber Kinetics entered into the License (Exhibit 2) for use of the unimproved lot located at 641 West Red Line Avenue for electrical systems storage, including two below-ground precast vaults and a surface shed to house electrical and communications equipment. The License has been extended three times and currently terminates May 4, 2022; the current monthly License fee is $3,800.
DISCUSSION
This Fourth Amendment to the License (Exhibit 6) (i) extends the term of the License for an additional twelve (12) months with a termination date of May 4, 2023, (ii) increases the License fee by 10% to $4,180 per month and (iii) provides one 12-month renewal option upon three (3) months written notice and an increased License fee during the extension term of $4,389, or an additional 5%....
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