File #: 18-644    Version: 1 Name: RESOLUTION Authorizing the City Manager to Execute the First Amendment to the Loan Agreement and Promissory Note By and Between the City of San Leandro and the San Leandro Improvement Association in the Amount of $285,000 for the Purpose of Funding Publi
Type: Resolution - Council Status: Passed
In control: City Council
Meeting Date: 12/17/2018 Final action: 12/17/2018
Enactment date: 12/17/2018 Enactment #: Reso 2018-158
Title: RESOLUTION of the City of San Leandro City Council Authorizing the City Manager to Execute the First Amendment to the Loan Agreement and Promissory Note By and Between the City of San Leandro and the San Leandro Improvement Association in the Amount of $285,000 for the Purpose of Funding Public Improvements
Sponsors: David Baum Finance Director
Attachments: 1. 2018 SLIA Loan Amendment, 2. 2018 SLIA Loan Restucture Debt Service Schedule
Related files: 18-639

Title

RESOLUTION of the City of San Leandro City Council Authorizing the City Manager to Execute the First Amendment to the  Loan Agreement and Promissory Note By and Between the City of San Leandro and the San Leandro Improvement Association in the Amount of $285,000 for the Purpose of Funding Public Improvements

 

Body

                     WHEREAS, San Leandro Improvement Association, a non-profit organization formed to administer a community benefit district, desires to construct public improvements in the Downtown; and

 

                     WHEREAS, the First Amendment to the loan agreement and promissory note between the City of San Leandro and San Leandro Improvement Association, a copy of which is attached, is presented to this City Council; and

 

                     WHEREAS, the City Council is familiar with the contents thereof; and

 

                     WHEREAS, the City Manager recommends approval of said agreement.

 

                     NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as follows:

 

That the City Manager is hereby authorized to execute all documents necessary to complete the First Amendment, subject to approval as to form by the City Attorney.