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<br />, . <br /> <br />. .- <br /> <br />Minutes <br />San Leandro Redevelopment Agency Joint Meeting - July 17, 2000 <br /> <br />Page 4 <br /> <br />The following Resolution was then introduced: <br /> <br />Resolution No. 2000-27, Resolution of the San Leandro Redevelopment <br />Agency of the City of San Leandro Approving an Owner Participation <br />Agreement (OP A) Between the San Leandro Redevelopment Agency, Stan <br />Boersma and Amin-Concord, LLC, for Construction of a Hotel and Self- <br />Storage Facility Located at 524-526 Lewelling Boulevard, Assessor's Parcel <br />Number 412-0011-001-07 (ensures the 121-room hotel and 137,000-square- <br />foot self-storage project approved for construction by PD-99-2 meets certain <br />development and operational requirements and provides up to $150,000 <br />$210,000 in tax-increment funds to pay for certain hotel project upgrades). <br />Amended to require, at the end of fifteen (15) years, the Agency and the <br />Participant are required to negotiate a potential extension of the <br />covenants requiring Participants to maintain the facility as a three-star <br />hotel beyond fifteen years. (2862) <br /> <br />M1S/C Glaze and Loeffler. Ayes: 7; Noes: 0 <br /> <br />6. ADJOURN <br /> <br />The San Leandro Redevelopment Agency adjourned its meeting at 11:25 p.m. <br /> <br />RESPECTFULLY SUBMITTED: <br /> <br />~~ <br />GAYLE TERSEN <br />Secretary of the San Leandro <br />Redevelopment Agency <br /> <br />F:\SLRD\MINUTES\2000\071700.SLRAMIN <br />