Subject: Oakland Ice Center Lease And Capital Project
From: Economic And Workforce Development Department
3
Recommendation: Adopt An Ordinance (1) Authorizing The City Administrator To
Negotiate And Execute The Following (A) A Lease And Management Agreement
Between The City As Landlord And Sharks Ice, LLC As Tenant To Operate The
Oakland Ice Center For An Initial 5-Year Term With Four 5-Year Extension Options At
A Rate Of Three Hundred Thirty-Five Thousand Dollars ($335,000) In Base Rent Per
Year, Less An Annual Capital Contribution By The City Of One Hundred Thousand
Dollars ($100,000), With An Annual Tenant Capital Contribution Of One Hundred
Thousand Dollars ($100,000) And Percentage Rent Of Seven Percent (7%) Of Annual
Gross Revenue Above $4.3 Million Dollars;
(B) An Advertising Revenue Sharing Agreement With Tenant Retaining The First One
Hundred Thousand Dollars ($100,000) And The City Receiving Fifty Percent (50%) Of
The Remaining Net Advertising Revenue For A Term Of Five (5) Years With Four
5-Year Extension Options;
(C) The Use Of One Million Three Hundred Forty-Four Thousand Nine Hundred And
Ten Dollars ($1,344,910) In Capital Reserve Funds And Up To Five Hundred
Thousand Dollars ($500,000) In Anticipated Net Revenue In Fiscal Year 2025-2026
To Reimburse Sharks Ice, LLC For Losses Realized Under The Current Management
Agreement; And
(D) Disbursement Agreement With The Sharks Ice, LLC, In A Total Amount Not To
Exceed Ten Million Dollars ($10,000,000) Of Measure U Bond Funds For A New
Refrigeration System And Related Capital Improvements
(2) Making Findings That The Lease For Below Fair Market Rental Value Is In The
Best Interest Of The City’s; And
(3) Adopting Appropriate California Environmental Quality Act Findings
Attachments:
7 Speakers Spoke On This Item
The Committee Approved The Recommendation Of Staff And To Forward This
Item To The June 16, 2026 City Council Agenda On Consent
A motion was made by Carroll Fife, seconded by Rowena Brown, that this matter
be Approved the Recommendation of Staff, and Forward to go before the
Concurrent Meeting of the Oakland Redevelopment Successor Agency / City
Council / Geologic Hazard Abatement District Board, to be heard 6/16/2026. The
motion carried by the following vote:
4 - Fife Ramachandran Unger, Brown
0
Aye
NO VOTE