CITY OF ALAMEDA ORDINANCE NO. _____
AUTHORIZING THE CITY MANAGER TO EXECUTE A LEASE WITH POSEIDON TECH CORPORATION, A DELAWARE CORPORATION, FOR A TERM OF SEVEN YEARS, WITH TWO ADDITIONAL FIVE-YEAR EXTENSION OPTIONS FOR BUILDING 11, LOCATED AT 1190 WEST TOWER AVENUE, AT ALAMEDA POINT WHEREAS, City-owned Building 11, 1190 West Tower Avenue, (the “Premises”) consists of approximately 110,561 square feet of rentable space that has been unleased since 2020; and WHEREAS, Poseidon Tech Corporation, a Delaware Corporation (“Poseidon”), was founded in 2023 in San Francisco, and develops autonomous aircraft, including autonomous seaplanes; and WHEREAS, the City and Poseidon have negotiated a lease with an initial term of seven (7) years with two (2) options to extend the term for an additional five (5) years (up to a total of 17 years including the original lease term); and WHEREAS, the permitted uses under the lease are general office, research and development, light manufacturing and assembly of autonomous aircraft and related components, ancillary storage, and staging of finished aircraft for transport.
NOW, THEREFORE, the City Council of the City of Alameda does hereby ordain as follows:
Section 1. The City Manager of the City of Alameda is hereby authorized to execute on behalf of the City of Alameda a lease agreement with Poseidon Tech Corporation, a Delaware corporation, for Building 11 at 1190 West Tower Avenue at Alameda Point for an initial term of seven (7) years with two (2) additional five (5) year extension options pursuant to certain conditions, 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, for any reason, is 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
City of Alameda
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I, the undersigned, hereby certify that the foregoing Ordinance was duly and regularly adopted and passed by Council of the City of Alameda in regular meeting assembled on the ___ day of ________ 2026, 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 ____ day of __________ 2026. ______________________ Lara Weisiger, City Clerk City of Alameda
APPROVED AS TO FORM:
______________________
Len Aslanian, Acting City Attorney
City of Alameda
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