ITEM TITLE:
#25-13 - Authorizing Lease Amendment No. 4 for a Lease with Alyeska Pipeline Service Company (SERVS) Dock for an 11.35 Acre Portion of ATS 564 Tidelands
SUBMITTED BY: Nicole Chase, Planner
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve resolution #25-13 authorizing Lease Amendment No. 4 for a lease with Alyeska Pipeline Service Company (SERVS) dock for an 11.35 acre portion of ATS 564 Tidelands.
SUMMARY STATEMENT:
On March 9, 1994, the City of Valdez entered a lease for an 11.35-acre portion of ATS 564 with Alyeska Pipelines Service Company for twenty-one years, commencing March 9, 1994, and ending the last day of March 2015, with six, five-year options to renew the lease agreement upon submitting a notice with intention to extend from Alyeska. This lease is for the Ship Escort and Response Vessel System (SERVS) dock adjacent to 200 South Harbor Drive, the location of the Alyeska SERVS building (see attached aerial map.)
The lease was renewed for their second of six five-year renewal options via resolution #20-12, extending the lease term from April 1, 2020, to March 31, 2025.
Approval of this resolution will authorize lease renewal option number three of six five-year options for the period commencing April 1, 2025, and ending March 31, 2030. All other terms, covenants, and conditions of said lease, and amendments, shall remain in full force and effect.
Pending Council approval of this resolution, Community Development Department staff will work with the City Attorney and Alyeska Pipeline Service Company to execute Lease Amendment No. 4 extending the lease for a term of five years.