ITEM TITLE:
Resolution #20-12 - Authorizing Lease Amendment No. 3 to a Lease with Alyeska Pipeline Service Company for an 11.35 Acre Portion of ATS 564
SUBMITTED BY: Nicole LeRoy, Planning Technician
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve resolution #20-12 authorizing Lease Amendment No. 3 for a lease with Alyeska Pipeline Service Company for an 11.35 acre portion of ATS 564
SUMMARY STATEMENT:
On March 9, 1994, the City of Valdez entered into a lease for an 11.35 acre portion of ATS 564 with Alyeska Pipeline Service Company (APSC) 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 submittal of a letter of intention to renew from the lessee. This lease is for operation and maintenance of 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 is set to expire the last day of March, 2020 and APSC submitted a letter of intention to exercise their second of six five-year renewal options on January 13, 2020.
Approval of this resolution will authorize the City Manager or their designee to execute said lease renewal amendment, exercising renewal option number two of six five-year options for the period commencing April 1, 2020 and ending the last day of March 2025. All other terms, covenants, and conditions of said lease, and amendments, shall remain in full force and effect.
Pending Council approval of this resolution, Planning Department staff will work with the City Attorney and APSC to execute Lease Amendment No. 3 detailing the terms above.