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<br />Staff recommends: 1) whole and immediate forgiveness of the loan for $50,000; and <br />2) forgiveness of the loan for $185,000 over an amortized period of 30 years from the <br />date which the loan was originally granted. <br /> <br />Committee Recommendation <br />The Business and Housing Development Committee recommended forgiveness of both <br />loans, analogous to the recommendation and structure of loan forgiveness recommended by <br />City staff. <br /> <br />4. Public Comments <br /> <br />Elaine de Coligny, Executive Director of Building Futures with Women and Children, <br />wished to pass along her gratitude to the City and acknowledged that she was very <br />appreciative of the City's cooperation and support for her organization. She also wished to <br />commend City staff for their "can-do" attitude and willingness to complete similar projects <br />which are of immeasurable benefit to the community. She then shared that Building Futures <br />has assisted over 1,200 battered women and their families since 1999. <br /> <br />Diana Gentry, CEO of the San Leandro Chamber of Commerce, noted that the Chamber is <br />extremely pleased to learn about the new industrial development occurring in San Leandro. <br />She further noted that a strong and growing industrial base is important to the health of San <br />Leandro's economy. <br /> <br />5. Committee Member Comments <br /> <br />None <br /> <br />6. Adjourn <br /> <br />The meeting adjourned at 5:05 p.m. <br /> <br />3 <br />