CITY OF ALAMEDA ORDINANCE NO.
New Series
AUTHORIZING THE CITY MANAGER OR DESIGNEE TO EXECUTE
A FIRST AMENDMENT TO THE LEASE WITH PARK STREET WINE
CELLARS, INC , A CALIFORNIA CORPORATION, FOR
APPROXIMATELY 700 SQUARE FEET OF RETAIL SPACE IN THE
HISTORIC ALAMEDA THEATRE LOCATED AT 2315 CENTRAL
AVENUE, SUITE 122, ALAMEDA, TO PROVIDE SIX MONTHS OF
RENT DEFERRAL WITH A THREE-YEAR REPAYMENT PERIOD
WHEREAS, Park Street Wine Cellars, Inc. (Park Street Wine) operates a retail wine shop in the Alameda Theatre complex located at 2315 Central Avenue, Suite 122, Alameda consisting of approximately 700 rentable square feet; and
WHEREAS, a 66-month lease with Park Street Wine commenced on October 16, 2019, terminates on April 15, 2025, and includes one 5-year extension option; and
WHEREAS, 6-months of rent abatement was provided to Park Street Wine at the commencement of the lease while Park Street Wine completed improvements to the premises and acquired Alcohol Beverage Control licensing; and
WHEREAS, on October 6, 2020 City Council approved pandemic-related rent relief programs for the Alameda Theatre and Alameda Point commercial tenants; and
WHEREAS, staff now recommends rent relief in support of the two other tenants located within the Alameda Theatre complex, including Park Street Wine; and
WHEREAS, the proposed first amendment to the Park Street Wine lease provides a 6-month rent deferral to Park Street Wine with a 3-year repayment period, commencing July 1, 2022 and ending June 30, 2025 , and an opportunity to earn up to three months of rent credit for early repayment of the total deferred rent sum; and
WHEREAS, if Park Street Wine does not timely exercise the 5 -year extension option in the Lease prior to termination, the repayment period wil l automatically accelerate and all unpaid deferred rent will be due on the last day of the Lease term; and
WHEREAS, a minimum of two (2) months of deferred rent must be paid during each year of the repayment period. If the total amount of the deferred ren t is repaid prior to the last day of the 3-year repayment period, Park Street Wine will accrue one month of rent credit for each twelve -month period of the deferral period t hat is not needed for repayment; and
WHEREAS, nonpayment of the deferred rent or n onperformance of any other term of the amendment will be a default of the Lease; and
WHEREAS, total deferred rent will not exceed $17,088 and maximum rent credit that may be earned by Park Street Wine will not exceed $8,543.85.
NOW THEREFORE, BE IT ORDAINED by the City Council of the City of Alameda that by four affirmative votes that:
Section 1. The City Manager of the City of Alameda or designee is hereby authorized to execute on behalf of the City of Alameda, a first amendment to the lease with Park Street Wine Cellars, a California corporation, to provide six months of rent deferral with a three -year repayment period for the p remises at 2315 Central Avenue, Suite 122, Alameda, subject to such technical or clarifying revisions as are reasonably determined necessary by the City Manager and approved by the City Attorney, and the City Clerk is hereby authorized and directed to attest to the same.
Section 2. If any section, subsection, sentence, clause or phrase of this ordinance if, for any reason, held to be invalid or unconstitutional, such decision shall not affect the validity or constitutionality of the remaining portions of this ordinance. The City Council of the City of Alameda hereby declares that it would have passed this ordinance, and each section, subsections, clause, or phrase hereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses and phrases are declared to be invalid and unconstitutional.
Section 3. This ordinance shall be in full force and effect from and after the expiration of thirty (30) days from the date of its final passage.
Presiding Officer of the City Council
Attest:
Lara Weisiger, City Clerk
* * * * * *
I, the undersigned, hereby certify that the foregoing Ordinance was duly and regularly adopted and passed by the Council of the City of Alameda at a regular meeting assembled on this 1st day of March 2022 by the following vote to wit:
AYES:
NOES:
ABSENT:
ABSTENTIONS:
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official seal of said City this 2nd day of March 2022.
_____________________________
Lara Weisiger, City Clerk
City of Alameda
APPROVED AS TO FORM:
________________________
Yibin Shen, City Attorney
City of Alameda