Excerpt:

Exhibits:

1. Diagram of Leasehold Area
2. Lease
3. Ordinance

BACKGROUND

Power Engineering Construction Company (Power Engineering) builds complex marine construction and civil engineering projects and has been an Alameda Point tenant since 2005. Starting in 2010, they have been occupying the premises on a month-to-month basis. Based on the approved plans for Alameda Point, this maritime use that focuses on high-paid jobs and high-profile ferry terminal and shoreline improvement work is consistent with the long-term vision for the Enterprise District and plans for economic development at Alameda Point.