20-0810 2) An Ordinance Authorizing The City Administrator Or Designee To Execute An Assignment Pursuant To Which The City, As Assignee Would Assume From The Fox Oakland Theater, Inc., ("FOT") As Assignor, FOT's Interests As Landlord Under The Following Subleases: (1) The Amended And Restated Fox Theater Sublease With Oakland School For The Arts As Subtenant, Dated January 16, 2016, For A Term Ending June 30, 2021 At An Annual Rent Of Approximately $940,500; (2) The Fox Theater Building Sublease With GASS Entertainment, LLC As Subtenant, Dated As Of December 2006, As Amended, With Options To Extend Until February 6, 2034, For The 69,450 Square Feet Concert Hall At An Annual Percentage Rent Based On Paid Admissions And The 1,300 Square Feet Bar And Event Space At A Base Rent Of Approximately $2,813.56 Per Month, Increased By 10% In 2024 And Every Five Years Thereafter Upon Renewal; And (3) The Amended And Restated Fox Theater Restaurant Lease Agreement With The Emporium Oakland LLC, As Subtenant, Dated August 29, 2018, For $110,774 In Annual Rent For The 4,503 Square Feet Arcade Bar Venue, With Options To Extend Until 2036
Dear Mayor Schaaf and Oakland City Council Members: Please do not rush the Henry J. Kaiser lease agreement. Please do NOT approve the current contract until further options are thoroughly explored and full public comment has been made. How will the Henry J. Kaiser Center be used and how will its use include and benefit a significant number of Oakland residents? There needs to be a Community Benefits Agreement (CBA) provided by the lease holder. There also needs to be a financial benefit to the City of Oakland (not a financial loss!) and demonstrated fiscal responsibility for any lease holder. For something as important and long-term as a 99-year lease, there needs to be a thoughtful decision-making process rather than a rushed decision. Thank you.
Dear Mayor Schaaf and Oakland City Council Members: Please do not rush the Henry J. Kaiser lease agreement. Please do NOT approve the current contract until further options are thoroughly explored and full public comment has been made. How will the Henry J. Kaiser Center be used and how will its use include and benefit a significant number of Oakland residents? There needs to be a Community Benefits Agreement (CBA) provided by the lease holder. There also needs to be a financial benefit to the City of Oakland (not a financial loss!) and demonstrated fiscal responsibility for any lease holder. For something as important and long-term as a 99-year lease, there needs to be a thoughtful decision-making process rather than a rushed decision. Thank you.