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2007-06-06 ARRA Packet
AGENDA Special Meeting of the Governing Body of the Alameda Reuse and Redevelopment Authority * * * * * * ** Alameda City Hall Council Chamber, Room 391 2263 Santa Clara Avenue Alameda, CA 94501 1. ROLL CALL 2. Public Comment on Non - Agenda Items Only. Wednesday, June 6, 2007 Meeting will begin at 6:00 p.m. Anyone wishing to address the Board on non- agenda items only, may speak for a maximum of 3 minutes per item. 3. ADJOURNMENT TO CLOSED SESSION OF THE ARRA TO CONSIDER: 3 -A. CONFERENCE WITH REAL PROPERTY NEGOTIATOR: Property: 2151 Ferry Point, Alameda, CA Negotiating parties: City of Alameda and Alameda Naval Air Museum Under negotiation: Lease price and terms 3 -B. CONFERENCE WITH REAL PROPERTY NEGOTIATOR: Property: Alameda Naval Air Station Negotiating parties: ARRA and SunCal Companies Under negotiation: Price and Terms Announcement of Action Taken in Closed Session, if any. 4. ADJOURNMENT Notes: ▪ Sign language interpreters will be available on request. Please contact the ARRA Secretary at 749 -5800 at least 72 hours before the meeting to request an interpreter. • Accessible seating for persons with disabilities (including those using wheelchairs) is available. Minutes of the meeting are available in enlarged print. • Audio tapes of the meeting are available for review at the ARRA offices upon request. Special ARRA Closed Session Council Chamber, Room 391 June 6, 2007 6:00 p.m. Item 3 -A. This report is distributed to the Chair and Boardmembers under separate cover. Item 3 -B. This report is an oral report only. AGENDA Regular Meeting of the Governing Body of the Alameda Reuse and Redevelopment Authority * * ** * *** Alameda City Hall Council Chamber, Room 390 2263 Santa Clara Avenue Alameda, CA 94501 1. ROLL CALL 2. CONSENT CALENDAR Wednesday, June 6, 2007 Meeting will begin at 7:00 p.m. Consent Calendar items are considered routine and will be enacted, approved or adopted by one motion unless a request for removal for discussion or explanation is received from the Board or a member of the public. 2 -A. Approve the minutes of the Special Meeting of May 8, 2007. 3. REGULAR AGENDA ITEMS 3 -A. Oral Report Update — Alameda Point Master Developer 3 -B. ARRA Budget Update 4. ORAL REPORTS 4 -A. Oral report from Member MatalTese, Restoration Advisory Board (RAB) representative. 5. ORAL COMMUNICATIONS, NON - AGENDA (PUBLIC COMMENT) (Any person may address the governing body in regard to any matter over which the governing body has jurisdiction that is not on the agenda.) 6. COMMUNICATIONS FROM THE GOVERNING BODY 7. ADJOURNMENT This meeting will be cablecast live on channel 15. Notes: • Sign language interpreters will be available on request. Please contact the ARRA Secretary at 749 -5800 at least 72 hours before the meeting to request an interpreter. • Accessible seating for persons with disabilities (including those using wheelchairs) is available. • Minutes of the meeting are available in enlarged print. • Audio tapes of the meeting are available for review at the ARRA offices upon request. UNAPPROVED MINUTES OF THE REGULAR MEETING OF THE ALAMEDA REUSE AND REDEVELOPMENT AUTHORITY Tuesday. May 8, 2007 The meeting convened at 7:13 p.m. with Chair Johnson presiding. 1. ROLL CALL Present: Beverly Johnson, Chair of Alameda Marie Gilmore, Boardmember, City of Alameda Doug deHaan, Boardmember, City of Alameda Frank Matarrese, Boardmember, City of Alameda Lena Tam, Boardmember, City of Alameda 2. CONSENT CALENDAR 2 -A. Approve the minutes of the Regular Meeting of April 4, 2007. 2 -B. Review and approve all new and existing subleases at Alameda Point. 2 -C. Disposition of Personal Property — Proposed Sale of 45 Foot Yard Tug Boat. 2-Aj Item 2 -C. was withdrawn. Approval of items 2 -A and 2 -B. was motioned by Member Matarrese, seconded by Member Tam and passed by the following voice vote: Ayes — 5; Noes — 0; Abstentions — 0. 3. REGULAR AGENDA ITEMS 3 -A. Consideration of Master Developer Partnership Agreement and Master Developer Selection. Debbie Potter, Base Reuse and Community Development Manager, gave an overview on the status of the of the Master Developer process. She summarized that, on April 4, the ARRA selected Catellus and Lennar Urban as co- master developers and the Board requested they return with a Partnership Agreement in 30 days. On May 2nd , Catellus and Lennar submitted a non- binding term sheet that described general provisions that would be included in a yet-to-be- determined Operating Agreement. The term sheet contemplated a 60 -day time frame for completing the partnership agreement. The evaluation team reviewed the term sheet and concluded that it raised more questions than answers regarding the potential to reach a partnership agreement. Missing teirs included: the use of third party equity capital, how additional partners could be added, and what constitutes default under the agreement. Important items deferred were remedies for breach of contract, dispute resolution, percentage of vertical development reserved for each partner, etc. Concerns about the ultimate management structure, cost of third party equity funds vs. self financing and approach to development resulted in the determination that it was unlikely a partnership agreement can be negotiated that maximizes timely, cost effective, market driven redevelopment of Alameda Point. Staff recommended that the Board reconsider the partnership approach and select one master developer. Staff identified Catellus as the better partner for ARRA as they are self financing and their minimum IRR requirement is the lowest. Page 2 Each of the master developer teams was given.10 minutes to make final comments (in this order: Catellus, Lennar, and SunCal) before the Board began discussion of the item. There was one public speaker, Richard Rutter, who discussed his support of staff's recommendation to select one Master Developer. The following motions were made: Member Matarrese motioned to set aside the Partnership Agreement approach and select just one Master Developer. Motion was seconded by Member deHaan and passed by the following voice vote: Ayes — 4, Noes —1 (Gilmore). Member Matarrese motioned to appoint Catellus as the Master Developer. Motion was seconded by Chair Johnson and failed by the following voice vote: Ayes — 2 ( Matarrese, Johnson), Noes — 3 (Tam, deHaan, Gilmore). Member Tam motioned to select SunCal as the Master Developer. Motion was seconded by Member deHaan and passed by the following voice vote: Ayes — 3 (Tam, deHaan, Gilmore), Noes — 2 (Johnson, Matarrese). 3 -B. Approve Draft Comment Letters on Record of Decision for Installation Restoration Sites 1 and 25 and Authorize Executive Director to Submit Comment Letters to the Navy. At the last meeting, Member Matarrese asked staff to prepare comments on the draft ROD for Sites 1 and 25. Member Matarrese requested that the bottom -line and desires of the ARRA is stated right up front as an introduction of the letters. Member Matarrese moved to approve the letters with the edit of repeating the end goal right at the front of the letter. Motion was seconded by Member deHaan and passed by the following voice votes: Ayes — 5, Noes — 0. 4. ORAL REPORTS 4 -A. Oral report from Member Matarrese, RAB representative. There was no report, as Member Matarrese was on vacation and did not attend the meeting. 5. ORAL COMMUNICATIONS, NON - AGENDA (PUBLIC COMMENT) There was one speaker, David Howard, who spoke about car - ownership for low income individuals and families of the affordable housing development at Alameda Point. Page 3 6. COMMUNICATIONS FROM THE GOVERNING BODY none. 7. ADJOURNMENT Meeting was adjourned at 8:57 by Chair Johnson. Respectfully submitted, rma Glidden ARRA Secretary Alameda Reuse and Redevelopment Authority Interoffice Memorandum June 6, 2007 To: Honorable Chair and Members of the Alameda Reuse and Redevelopment Authority From: Debra Kurita Executive Director Re: ARRA Budget Update BACKGROUND In April 2006, staff outlined many of the significant future challenges for the ARRA budget. Those challenges were specifically related to transition planning reflecting two alternative scenarios: Alameda Point Community Partners (APCP) exercising its option to proceed with development of Alameda Point or, alternatively, declining to proceed with development. One year later, the ARRA has selected a new master developer, but these decision milestones are still unresolved and therefore still need to be considered when examining the ARRA's future fiscal plan. DISCUSSION Staff and the ARRA Board began transition planning two years ago. In 2005, it was expected that if APCP elected to proceed, then the ARRA would begin to transition activities based upon concurrently processing development entitlements and negotiating a Disposition and Development Agreement (DDA). It was expected that the entitlement process and DDA negotiations would last 18 months and conclude in December 2006. It was also anticipated that as of January 2007, consistent with the terms of the negotiations, the ARRA would begin conveyance of land at Alameda Point, and APCP would assume most, if not all, of the activities currently performed by ARRAICity staff at Alameda Point. These activities include property management, leasing, grounds care, planning, etc. The FY 2005 -06 approved budget was based upon those changes in the ARRA operations. ARRA staff also produced an alternative development path in the event that APCP elected not to proceed. That path involved seeking out another developer and beginning a new negotiation process. Since the loss of APCP and the new developer search delayed conveyance of property from the Navy, the budget presented is in a cash flow form, making assumptions relative to continued property maintenance and facility management. The delay has resulted in another full fiscal year of ARRA revenue and expenditures (FY 06/07). The one major change is the resulting new income from the renegotiated MARAD lease. Honorable Chair and Members of the Alameda Reuse and Redevelopment Authority RECOMMENDATION June 6, 2007 Page 2 This is an informational item and requires no action at this time. The ARRA budget will be approved as part of the City's overall budget on June 19. Res submitte Leslie Little Development Services Director Attachments: 1. ARRA Lease Revenue Cash Flow (2005 -2017) 2. Interim Leasing Status Report n a N 0 N O N 04 r. N O N r O O 0 N O a N 0 N N0OQ N r 0.nOmrO OW MONVMOOWMWIOA' NTNWY01 M O NOONO OW C) O V O N r r 0.016.01.0 � O Q S N O X 0 0 COO m R (0(0 0 .- m 0O mO r0 A n�N N V SNOW OW MN W O (`• V)o On0 N64rntO 01 W M o Q W. V 0 m 5A W W W W WO WW N W W W WO W O ' 000 N W • W . (n9 W 09 . M *00040 M O W 0 N N O N NOW, O Oi .- N. V V W 0 1A W o 0 o r rn cco o own.- cmy.'- m 001 N O Q m W 01 V N o N N A vN.R 04 W v0 v N W W VI 0 4000.010000 00"0 V O000 O SOOS 00 400000003 0OMM ONN M Nv 0 cO N O 4106-.N.00 47 06-Mn0 0 6 M ON V000 p M V V O m • e- N<n 0MN M < NN CV 1O a VA y cWON 69 M COO 0.064.-W N N W W W W W W M 69 `- N cj 06169 W W ' W r W 00 W . 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W W W M NMm V n M n 0 • 000, OOm M O 00 M 0A NQ) Om N MO O <NMW W O m VV W 00.00000000 V A V O n-NOO 0 O O 0 O A O � O W O M ONO W N ONN 000 o o V oO 0 0 M N 4T m OO N O O O? V N O O N o 0 o m v W M v M 01 0 M 0 0) 01C0 m 0 M W W M r 0 O r O N O V WON 9 P n N W W W W M N W W W W W NO O N A M m • W M 0 0 O W V 6-4000 0 N010.000000 h r M M W W W OO W QNi 6 NOV rm N N O O M N Q M. N N M . 0v0 CONON.. 400 N N O N. 0( r K m ✓ M O CNO. m O •- • ddrodrdd M VN N0o ' N V ^ M r0 on oN m yy O yy d c4 M O J N W MWNW 0 Npp N(9 o n W O n N '0W W W W W W W °T W W W O W W W 0 �NO W W W W 69 W W V.00030000 v006-.000000 c0.000 0 0) 0 0.0-v00000 0 0 N0040. 0 N O M V O 0 0 O 0 0 O n O n O O 0 W W W n N V W W W W O o V 0 O N O W 0 On v0.0 O VWVCOv O N O N V o 0 0 $ 0 o N O O o m o 0 0 r O O m A m m m m d d oco d m 0 m o m o o d d d d v m d N V ,-66.- 0 M N m N M .� N O m O) N n co o m m O m .- V n O n n 0 040v. O VM.)nN MWWNW. 0 Nv W0N ONWAtDMW O. ✓ 000. O W W W W W rW W W N W WOW W W 00.69 Vi 0.001 m W W W O m(V000 W 000 N O(MON�S00OW 509� m m0000 woo N v N N O n 00 N 4O N N V v pbMp O N �0 N 0' N n V 0400 001 O V C V O 100 M (.j 0 W W W W 0) W W W 59 WO.W W 0))W W (4 064W MW 69000 (00- 0 W W N NON M V) p)N0v 0509 W OO(A 0000000000000 QQ 0) V)00N err.-000 0(0)0 0n ON O N 00 n N NOON 0 N ....1't''' .N (O(1� V .- O 00.00v000 (p00 v 00 0 ,_ Mr 0010 oQ V>O tgOn 0 10 yy N. M ONNn n N • O O m1N0 00 V .n-y* O N N N mt0mN a M M -n N M W W N W. M N ON ON W O t0 M.- W M ('0• d.-.,..: m (' W W W. 69 WW W N W nj W W W WW W W W W W W W ' W (9 W W V 00.0 N 0000000000 0 0 0 0 0 0 0 O 0 00000 O V O 00000000 0 0 N O O 4 o O V n 00000000640 000000006400. c 0 0 0 . o v 01-.0 0 n r 0 0 0 0 O (V 1()o Oi .5 A no. -000 m , ONNN(000 v ONO N NMO MAO^ OOi V 0100 m N 0p0p0 O NCmv 1 --01(00 V M W W N W. as W O c09MNW 0.090509 W Nb1 M N m.. w .- m nj W W W W W W 0 WW W 0 N (O W WO . W 63 61 t9 W O V o O V q O m O coo.. N ✓ N O 100 N N ro o$m (o m O co W 0 W W S229,504,048 0000000000 0000 0 0 0 0 0 0 0 M O O O O W O O O W 0 0 0 0 0. 0 0 O O M O O O O O 0 0 0 O O O O 0-0000 0 000) O N N N O N30000 r M d N 0 VV N M O W 0 0 W W W W W 9 W W 88222 O O 00 pO o N O 00) W nj . W W 00000 00000 010 O O O 0 0) N 40 V A 0 W oW 0 N N M O ? o a oW v 001000 0 0 0 0 M O v (000 0 0 0 0 0(0 0000 V.0 N 00 (00 (0 04 O O O V (M N 0000 0 (O MO 000 O.V-_O V V n O 0 O v00000.000 0 O 0 V 0 0 0 0 0 N O (0 10 o A N o m O O N m V 0 0 0 V N K O o O O s 0 0 O O . 0 0 0 0m 0 O (0 M 0 M 0 O M N V O O N 0 0 0 0 0 0 0 NV 0 0 0 0 0 o n N (0 M W N o 0 0 0 O N N V 0 n 0 V (O N W '0 0 04 0 O O V N O 0 (0 N n n V O,.y 0010 W 1n W W ,.,600,6,_0 '0'0" 0i dA A A N A .4 N A d 040.011.. W WW WW 00 W(00 W.W WW �WW rm U yp e. 'i'2 lo U N .g°. A on m �a r� <1 v o &° m 9 a i tc 3 d - U oil E , LL x m n u o ao U ro y U ? g m p M LL c 6 m i T m> m mrn 3 LL c c ro °c ; 0 o'h W oa a¢ m o a c m m Ea ma76(22n 241 5 r c•-41 W muit m�F S m'Z cc wLL C-c m0 @ m cm c c edit o m m a T rn .F 1111 c pc m o II m t Ise, m2 Q _� � U Willi f O mg LL > n. i gg 9 • a O e E. c ac, , O > ma o O a n.aa)e ga.5 8U-� y t m of m mX uc o. E a W p 2`n. ° cc 2, aa J F I- ¢O O m U m¢ O m S a w LL n Og g m¢ Q p U a s m¢ a ._ 0¢ a a O y a _:. . Q) 0 N V O N n N o CO O )) m 0) a- toO tA CO 6- N M O • N ✓ N W rW NOTES Bldg being marketed. Bldg used by gardeners & handyman. [No electricity available. Bldg being marketed. PREVIOUS STATUS CURRENT STATUS Preparing Lease May ARRA Renewal Vacated • Vacated Vacated Vacated May ARRA Approved Vacated Vacated EXP. DATE o.... --, --.__ -_, Er) v.... ---■ --_, --.., 1/4.0 ,..I --, -., -...„ N ■•••••1 ,— ...... ...... N r...1 ,--, .-.... -,.., oo ••••4 ----, -...... ...,, oo —. -..._ -.._ Cr, 3/31/12 4/30/14 ---■ N N --... (1 I Month to Month I Month to Month Month to Month Month to Month Month to Month BLDG # 1 Land N kr) E-1 CA N 00 --. V) ,-,s ' •—■ 24 N 1/4.0 \-0 ^0 3 Land Land 405 Er) c, 564 cr) ,_. 32 527 cr) ...... En .... CT Er) ...... TENANT New Cingular Wireless Alameda Power & Telecom Rosenblum Cellars Auctions by the Bay Auctions by the Bay Auctions by the Bay (Trans-Freight Express 12A. 51 Productions St. George Spirits - 1 Nelson's Marine 1 MARAD Piers East Bay Regional Park District (Antiques by the Bay Alameda Point Storage Antiques by the Bay Auctions by the Bay Community Bible Church S & C Electric ICametoid Technologies 0 •=C 'Michael Johnson Building 7 The ReUse People Revolution Foods Waters, Caldwell & Associates IESC Entertainment Updated 5/23/2007 NOTES PREVIOUS STATUS I CURRENT STATUS EXP. DATE 5/14/08 5/31/08 6/30/08 8/31/08 8/31/08 0.0 0 --• en , 11/16/08 11/30/08 12/31/08 12/31/08 CT 0 ,--4 en , --, Cr, 0 00 cNI ....._ N 4/30/09 6/30/09 8/31/09 12/31/09 Cr, 0 -., en ca 1/31/09 CN 0 0 en 5/30/09 c:r, 0 , 000 m 0 •-■ ,..._ N I 4/30/10 5/14/10 5/31/10 000 ,... en --4 •-■ ... en 4/30/11 BLDG # 35 19 0£S 13 Lot 393 - - Cr CV - 1 459 Land Land Piers \Q -,C co 0 338 if) 00? Le Z c t-r- ,... TENANT 'Revolution Foods 1GRM(Simmba Systems) (Alameda Civic Light Opera I Woodmasters Building 43 & Associates 'Pacific Fine Food IMakani Power Alameda Aerospace 'Antiques by the Bay Antiques by the Bay Trans - Freight Express 'Nelson's Marine General Services Admin. 'Creative Technology Navigator Systems Cameron Cole Antiques by the Bay (Trans- Freight Express 'Alameda Power & Telecom Alameda Power & Telecom IEvent Productions Nelson's Marine Piers West Coast Novelty (Power Engineering 'Container Storage Container Storage 'Alternatives in Action (Home) E E GFC Moving Updated 5/23/2007 NOTES preparing to terminate needs approval of the PUB. needs approval of the PUB. PREVIOUS STATUS March 21 ARRA Board CURRENT STATUS May ARRA Renewal May ARRA Renewal May ARRA Renewal May ARRA Renewal Preparing Lease June ARRA I May ARRA Renewal LOI sent 3/27 May ARRA Renewal May ARRA Renewal May ARRA Renewal EXP. DATE I 4/14/05 l 5/31/06 7/31/06 4/30/07 N 0 a r 4« N o a e N o o e r N e r_ G$ N o «± N o g N ©o 4 - R N -- e N. o r R» N e e I8/31/07 I N»» g 6 9 o r 2 9 o/ r* 2- 2 w 2 w Q 2 12/31/07 12/31/07 1/13/08 1/14/08 2/28/08 2/28/08 4/1/08 4/30/08 4/30/08 BLDG # Pier r 7 G\ m 3 Lot 2 _« 2 -- G% m M Q BOWTS 163 & 414 m# @ 530 &398 p _ ®/ ? # 5 7 2$$ Ell TENANT Alameda Naval Air Museum AC Hornet Coach Specialties I U . -, ] \ / U / ECC Alameda Power & Telecom Alameda Power & Telecom Delphi Production East Bay Habitat for Humanity Event Productions ( o 2 \ ' \ 2 Puglia Engineering Bay Shin & Yacht Jim Bustos Plumbing Trident Management Sustainable Technologies k g § U INextel Communications Jetsmart Archtectural Glass & Aluminum Chabot Space & Science Center Richard Miller Photography 'Bay Ship & Yacht Neptune Beach Amusement Museum Delphi Production Alameda Civic Light Opera ATTACHMENT 2 n Updated 5/23/2007 CITY OF ALAMEDA • CALIFORNIA SPECIAL MEETING OF THE CITY COUNCIL WEDNESDAY - - - JUNE 6, 2007 - - - 7:01 P.M. Location: City Council Chambers, City Hall, corner of Santa Clara Avenue and Oak Street. Public Participation Anyone wishing to address the Council on agenda items or business introduced by the Council may speak for a maximum of 3 minutes per agenda item when the subject is before the Council. Please file a speaker's slip if you wish to speak. 1. ROLL CALL - City Council 2. AGENDA ITEM 2-A. Review and approve Asset Management Guidelines for Tidelands Leasing. (Development Seryices) 3. ADJOURNMENT - City Council CITY OF ALAMEDA MEMORANDUM To: Honorable Mayor and Members of the City Council From: Debra Kurita City Manager Date: June 6, 2007 Re: Review and Approve Asset Management Guidelines for Tidelands Leasing BACKGROUND Staff is actively engaged in discussions related to renegotiation of several Tidelands leases. The pending expiration of these existing long-term leases creates an opportunity for the City to negotiate the new leases at market rates. Additionally, the outcome of this process may assist the City in achieving a number of its waterfront-related development objectives, including: • Foster a vibrant mixed-use pedestrian friendly Waterfront environment. • Physically and visually reconnect the community to the waterfront. • Improve public access through and around the waterfront district. • Preserve the unique history and environment of the area. • Encourage development in the area that is sensitive to the character of Alameda. In preparation for these negotiations, staff has developed proposed asset management guidelines that will serve as the foundation of future Tidelands lease discussions. DISCUSSION The issues related to the discussion of the future management of the City's Tidelands assets can be divided into the interests of either the City or the lessee: The City's interests are to: 1. Protect the long term property interest that reverts to the City at lease termination, thereby recovering at the end of the lease an asset that has been well-conserved, well- constructed and well-maintained; 2. Meet its stewardship and fiduciary responsibilities regarding management of City- owned Tidelands assets by managing property in the best long-term interest of the community and generating lease revenues to maintain and augment these assets; Agenda Item #2-A CC 06-06-07 Honorable Mayor and Members of the City Council June 6, 2007 Page 2 3. Increase the level and quality of public benefits, such as public open space, and public services without increasing public cost. In addressing this interest, any increase in cost to the General Fund for development and maintenance of new open space or other public infrastructure should be offset with new General Fund revenues. In most cases, the current lessees have benefited from 40 to 50 year term leases at very low rates, with little or no specific performance requirements. Consequently, the lessees are interested in: 1. Continuing their long -term interest in the property with little or no change in terms; 2. Gaining extended long -term contracts that maximize the value of the asset, allowing for leverage of lease terms for financing; 3. Controlling revenue - producing property without performance requirements, regulations for revenue sharing, and maintenance obligations. Since these interests are in direct conflict, staff has developed proposed guidelines to facilitate discussions with lessees who request new and early lease renewals. While only one long -term lease is actually expiring within the next year, other lessees have requested early extensions of their leaseholds to support major renovations, obtain financing, or ensure long -term control over the leased area in order to support future development plans. Given the requests for early lease renewals, staff recommends developing negotiation guidelines. The proposed guidelines are: 1. Ensure market -rate lease terms reflecting transactions for comparable waterfront properties (unless the lessee is required to reconstruct or construct improvements); 2. Require full disclosure of balance sheets and financials for property ( "open book" process); 3. Establish full disclosure of tenant identity and investors; 4. Require profit sharing and percentage rent consideration; 5. Establish procedures for re- appraisal of rent to market; 6. Consider modification to market rent only as an offset for development investment and only when those investments meet strict performance requirements and are actually made; 7. Require regular maintenance and compliance with design guidelines; 8. Require public access and, where appropriate, development and maintenance of waterfront bay trails; 9. Require maintenance of specific capital reserve accounts. Honorable Mayor and Members of the City Council June 6, 2007 Page 3 The Council may also consider: a. Not renewing some leases and utilizing the property for other purposes; b. Advertising the expiring lease opportunities to allow others to bid; c. Allowing the leases to expire; d. Negotiating leases that require improvements that meet some other community goals. Finally, at the same time lessees are asking to renew and extend their leases at current terms, they are also seeking to preserve their existing lease terms for the remainder of the original lease period. It is in those lessee's interest to secure extensions to their leases at the same terms as the current leases. After 40 or 50 years, these beneficial terms are significant. By seeking extensions, the tenants are essentially confirming the remaining leases have declined in value because the terms are too short for a lender, and not substantial enough to support capital investments. Staff recommends that existing leases be brought to market rates as extensions are requested and negotiated. These modifications would become the basis for an asset management strategy and provide opportunities for new waterfront community benefit revenues and subsequent asset development. RECOMMENDATION ;Review and approve the asset management guidelines for Tidelands leasing. ly sub itted, Leslie A. 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CO V Co O Co C O O O O C D O V O O c O O O O O V W N O O 0 0 0 0 A A ‘.0 O V 0 0 0 0 0 0( 0 N V 64, EA V o A A EA A N ER N O W O A y -+ O O W EA EA EA EA to EA .N EA ER EA EA EA EA to EA EA on N -4 A CO co N A N V N V O P W i fo N W EA EA W 4, N Co A V O N O C)) CT) N 0 0 J CD CO W N co 4, c0 0 N W Co CO to OJ V CA CO co N Co Co CO 0 0 CO CO P co � W O O tT CT W O O W (O O .P .P f4, A O Co .P N Co Wp, O O V 0) O 4) O �I (A CD -+ N N CO O CD EA EAO O V A O OCT) O EA to EAA O 4, En EA Eo 0000 W C0O CO EA 0EA EA00 Ch V Co CNT) N 0)N COT W N CO CO 10 O 000 A A V O N N 0 0 0 CA V 0 0 0 0 0 0 Ch A CO O N 0 0 0 CD 0a CO O co 0) En EA N -A W O CA W V O O (00 V V CO J 0) co AO0 CD CD 0N)4O -A A co NCCDD CWT NNN W W V - AO.0 -A+ V W A -4 CD CO O 0 O 00 000 ACOChC O O ON CA V O -W+000 O w O O O O O) "co Co p O O O f; O A O CO � N N J V cND N+ A CO W CA 0 co 0 p N O J W EA 0 EA CO N 0 0 0 64 EA 0 0 W J O N CD 64 0 69 CA A CO CO J A O O N CO 0 Co O CO V O O O O J -' 0 0 0 0 0 0 Co A N O W O O O O V CO V O� A N -+ O N EA E9 69 En EA Co NT) CA N N EA J EA EA 69 EA EA N EA N fA EA 69 En EA in to EA EA N f4, - td Cn < N -4 N J O CA W -+ co A -• to O CA 0 N A 3 O d W N O V Oa N O 0 c(0 O 0 O O O N W N 6 CO A N O N O C) Of O CO V ARRA LEASE REVENUE CASH FLOW (2005 - 2017) LOOZ /£Z /5 PalePdfl ,N3WHOV.LV HESCO Alameda Civic Light Opera Delphi Production Neptune Beach Amusement Museum Area 51 Productions Edge Innovations Bay Ship & Yacht Richard Miller Photography Chabot Space & Science Center Tetsmart Nextel Communications Conmar, Inc. Sustainable Technologies Trident Management Jim Bustos Plumbing Bay Ship & Yacht Puglia Engineering Marine Sanitation Services Event Productions East Bay Habitat for Humanity Delphi Production Alameda Power & Telecom Alameda Power & Telecom ECC NRC Environmental/NRC Coach Specialties AC Hornet Alameda Naval Air Museum TENANT 13 24 0 N _ 0 � F- :i 530 & 398 624 W BOWTS N 292 CT JW 517 LII Lot a\ N 271 O1 24 Pier 77 BLDG # 4/30/08 4/30/08 4/1/08 N N GO O 00 2/28/08 1/14/08 ,-., O 00 ~-+ N ---: O N --.. ~ O 12/31/07 - 4 O �D W d �1 W O `.1 Q 00 �. W 0 - J W 0 �1 7/31/07 7/31/07 7/14/07 6/30/07 O� .-■ 0 J 5/31/07 cn W O �.1 to W O ,..1 4/30/07 P W 0 J J W 0 O, W 0 Oti Q to EXP. DATE May ARRA Renewal May ARRA Renewal May ARRA Renewal LOl sent 3/27 May ARRA Renewal June ARRA Preparing Lease May ARRA Renewal May ARRA Renewal May ARRA Renewal May ARRA Renewal CURRENT STATUS March 21 ARRA Board PREVIOUS STATUS rn CD ' alnpayos lennaua eseai LOOZ /ZZ/S PalePdit C n 4 0 c Bladium Alternatives in Action (Home) Container Storage Container Storage Power Engineering West Coast Novelty 'Nelson's Marine Piers Event Productions I Alameda Power & Telecom ITrans-Freight Express Antiques by the Bay Cameron Cole Navigator Systems Creative Technology General Services Admin. Nelson's Marine Trans - Freight Express Antiques by the Bay Antiques by the Bay Alameda Aerospace IMakani Power Pacific Fine Food Il3uilding 43 & Associates Woodmasters [Alameda Civic Li . t Opera GRM(Simmba Systems) Revolution Foods TENANT O Z p sss 338 W Piers N Land Land 06 14 22 Lot 393 13 530 42 43 44 wClt CO r d n 4t .P 1.. W O �..-- moo 0\ trJ 0 p\ r-+ to 5/31/10 5/31/10 <,* �. ■-+ .P -. a00 .P W 4 -- N N 00 0 W 4 000`0 VD LA W 4 'O th W 4 0 - W ■�-• VD 12/31/09 'J N ---- w- moo 00 �., W ■0 0 W 4 VD 4/30/09 2/28/09 �--` ",; CO ,� 0 `000 - N w 12/31/08 ~ �-• ` w am 0000 - !-` 10/31/08 8/31/08 8/31/08 01 ..„ W 0 0 O0 5/31/08 5/14/08 EXP. DATE CURRENT STATUS PREVIOUS STATUS einpauos lennaue aseal LOOZI£Z /9 PolePdfl h7 n tri CD co CD CD 0 CD cn CD 0 0 ij 0 0 a C CD CD b CD 0 0 E. C) 0 trq 0 r 0 I 0 -4 a H CD r 0 0 cp CD C) ■-•. C) LOOZ /CZ /5 Palapdfl 'ESC Entertainment Waters, Caldwell & Associates Revolution Foods The ReUse People Building 7 Michael Johnson xmetoid Technologies Community Bible Church Auctions by the Bay 'Antiques by the Bay 'Alameda Point Storage I Antiques by the Bay East Bay Regional Park District IMARAD Piers 'Nelson's Marine St. George Spirits Area 51 Productions ITrans- Freight Express Auctions by the Bay Auctions by the Bay Auctions by the Bay Rosenblum Cellars Alameda Power & Telecom TENANT N 115 ~ 1-. W J --, W J W N r-, W 564 25 405 Land Airfield Land Land 1--, CO 0 J N '-' 24 t- ---, 525 — CO �O N C) Land BLDG # Month to Month Month to Month Month to Month Month to Month Month to Month 12/31/72 4/30/26 4/30/26 N N- CO — Ui 4/30/14 t - N o - ---, 8/18/11 8/18/11 7/31/11 7/31/11 o, O -� —, tlt - i-, EXP. DATE Vacated Vacated May ARRA Approved Vacated Vacated Vacated Vacated May ARRA Renewal Preparing Lease CURRENT STATUS PREVIOUS STATUS tO Z tO ea e npagos Iemauali asee-I