Title
Recommendation to Approve Jennifer Ott, City Manager, Lisa Maxwell, Community Development Director, Len Aslanian, Assistant City Attorney, and Pat O'Keeffe, Baker Tilly Consultant, as Real Property Negotiators for Building 525, Located at 2751 Todd Street, Alameda, CA [Auctions by the Bay]. (Community Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
Staff is recommending that City Council designate City Manager, Jennifer Ott, Community Development Director, Lisa Maxwell, Assistant City Attorney, Len Aslanian, and Baker Tilly Consultant, Pat O'Keeffe, as the real property negotiators for Building 525, located at 2751 Todd Street, Alameda (Premises), which will allow them to meet with City Council in closed session to discuss price and terms of a lease for the Premises in a manner compliant with all applicable laws and to represent the City of Alameda (City) in negotiations with a public or private party.
BACKGROUND
The Premises is located at 2751 Todd Street, Alameda Point and consists of approximately 23,208 square feet of rentable space. The Premises is located in Alameda Point's Adaptive Reuse Area near the "civic core". Auctions by the Bay (Auctions) is a leading, full service West Coast auction house specializing in the appraisal and sale of antiques and fine art. The original lease with Auctions for the Premises was approved in 2001. The current lease, approved on October 17, 2017, replaced the original lease and was amended on March 1, 2022 to implement the terms of the Covid-19 Rent Relief Program for commercial tenants of City-owned property. The term of the current lease is sixty-four (64) months and was set to terminate on March 31, 2023. The lease provides one 10-year extension option, which the tenant timely exercised.
Staff is recommending that City Council designate City Manager, Jennifer Ott, Community Development Director, Lisa Maxwell, Assistant ...
Click here for full text