RDA Agmt 2009 Munteanu_Gavril - Laserfiche WebLink

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REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO AGREEMENT FOR REIMBURSEMENT AND MAINTENANCE OF OUTDOOR FURNITURE FOR SERGIO'S PIZZERIA AT 1404 WASHINGTON AVENUE This Agreement is entered into by the Redevelopment Agency of the City of San Leandro ("Agency"), a public body corporate and politic, and Gavril Munteanu, owner of Sergio's Pizzeria ("Participant") and is dated this ''day of a ~y , 2009. The Redevelopment Agency has adopted an Awning, Sign and Paint Program which encourages property owners, business owners, and tenants to rehabilitate and revitalize commercial buildings and/or storefronts within the Plaza Redevelopment Project Area of the City of San Leandro. The Agency fords that such rehabilitation and revitalization shall assist in the elimination of blight in the project area. The Agency has determined that the Awning, Sign and Paint Program will achieve a public purpose by increasing business, job opportunities, and sales tax revenues in the Redevelopment Project Area. For the purpose of implementing the Redevelopment Plan, the Agency will assist property owners, business owners, and tenants with exterior building improvements including outdoor dining furniture and umbrellas. NOW, THEREFORE, the parties agree as follows: This Agreement shall become effective upon the execution of all parties. The covenants in this Agreement shall remain in effect for five (5) years. In consideration of the Itemized List of Improvements which follows, Agency will loan Participant up to $5,000, which shall bear interest at the rate of three percent (3%) per year, throughout the Term of this Agreement. If Participant defaults pursuant to the provisions of this Agreement at any time during the Term, the Loan shall become due and payable immediately. Should all terms of this Agreement be met, the entire principal and accrued interest shall be deferred for the Term and shall be forgiven at the end of the Term. ITEMIZED LIST OF IMPROVEMENTS The Agency agrees to make a forgivable loan for one half of the cost of outdoor furniture and accessories for the property at 1404 Washington Ave: Agency shall provide a reimbursement Loan to Participant upon submission of the written the Requisition Form attached hereto as Exhibit A, which will include an itemized list of the work completed and costs incurred to date. The Requisition Form shall be accompanied by the following: (a) copies of bills and invoices from contractors or other third parties, (b) a statement indicating services supplied and the persons providing such services, and