|
City of San Leandro, Redevelopment Successor Agency
<br />Recognized Obligation Payment Schedule, for July- December 2012
<br />Payee Project Description
<br />Start Date
<br />Estimated Balance
<br />End Date as of 7 /1/2012'
<br />Capital Improvement Projects /payment amounts by month ore estimates only)
<br />20,000.00 $
<br />20,000.00 $ 160,000.00
<br />RDA PT Trust Fund
<br />City of S. n Leandro Joint
<br />Cooperative Agreement to Fund Garage
<br />10/1/2008
<br />10/1/2012
<br />$ 3,385,843.00
<br />- $ -
<br />Construction - $11,450,000 (Res 2010 -009 RDA),
<br />$ - $
<br />- $
<br />- $
<br />- $
<br />plus Purchase Agmt for 262 Davis (Res 2008 -023
<br />- $ -
<br />No payments this period
<br />RDA)
<br />Bay Area Escrow Services Joint
<br />E14th /Hesperian Triangle Project - Revolving Fund
<br />3/5/2010
<br />Until complete
<br />$ 329,996.00
<br />Escrow Agreement for Site Remediation (cost is an
<br />estimate, could vary)
<br />SideB Corporation /Quality Lube /Various Joint
<br />Relocation Assistance Triangle Project (Fed - Title
<br />10/6/2009
<br />Until complete
<br />$ 88,139.00
<br />49 - Code of Federal Regulations; CA Code
<br />Regulations - Title 25, Div. 1, Ch 6, CA Govt Code
<br />sec 7260 et seq.; CA Code of Civil Procedure sec
<br />1263.510)
<br />Alameda Housing Associates Hsg
<br />Funding Agreement for "The Alameda." Owner
<br />4/6/2009
<br />TBD
<br />$ 7,019,324.00
<br />Participation and Loan Agreement and Associated
<br />Legal Costs (Res. 2009 -009 RDA)
<br />City of San Leandro WSL
<br />Cooperative Agreement for Eden Road
<br />1/17/2011
<br />7/1/2013
<br />$ 1,500,000.00
<br />construction (Res 2011 -001 RDA)
<br />City of San Leandro Plaza
<br />Cooperative Agreement for Hays Street
<br />1/17/2011
<br />7/1/2016
<br />$ 2,000,000.00
<br />Streetscape Improvements (Res 2011 -001 RDA)
<br />1.12012 Aug 2012 Sep 2012 Oct 2012 Nov 2012 Dec 2012 Total Funding Source
<br />$ 846,460.75 $ 846,460.75 $ 846,460.75 $ 282,153.58 $ 282,153.58 $ 282,153.58 $ 3,385,843.00 Bond Proceeds
<br />1$ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 30,000.001 Bond Proceeds
<br />$ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 30,000.00 1 Bond Proceeds
<br />$ 40,000.00 $
<br />40,000.00 $
<br />20,000.00 $
<br />20,000.00 $
<br />20,000.00 $
<br />20,000.00 $ 160,000.00
<br />RDA PT Trust Fund
<br />$ - $
<br />- $
<br />- $
<br />- $
<br />- $
<br />- $ -
<br />No payments this period
<br />$ - $
<br />- $
<br />- $
<br />- $
<br />- $
<br />- $ -
<br />No payments this period
<br />Total Paid from Existing Non - Housing Fund Balance $ -
<br />Total Paid from Existing Housing Set -Aside Fund Balance $ -
<br />Total Paid from Existing Bond Proceeds $ 3,445,843.00
<br />Total Paid from Redevelopment Property Tax Trust Fund $ 3,13 9, 651.6
<br />Administrative Allowance (3% of Redev. Property Tax Trust Fund, or $125k) $ 125,000.00
<br />Total Expenditures $ 6,710,494.64
<br />Key to Project Areas:
<br />Plaza = Plaza Project Area
<br />Joint = Alameda County /City of San Leandro (Joint) Project Area
<br />WSL = West San Leandro /MacArthur Boulevard Project Area
<br />Hsg = Affordable Housing Set -Aside
<br />' Principal balance only. Interest costs will be additional for some items.
<br />' The Kings are owners of real property located within the footprint of the Bayfair Mall that is being used for parking pursuant to a 1989 ground lease with the Mall developer, as amended. Amendments to the lease and other agreements have been entered into that purportedly require the Redevelopment Agency to guarantee lease
<br />payments to the Kings in the event of default. The developers (Bayfair 580, LLC c/o M & 1 Wikow of California, Ltd) gave notice to the parties on July 12, 2011 that Bayfair Sublessee LLC would not be making any further payments of rent to the Kings under the Sublease. The Kings have demanded payment from the parties, including the
<br />Redevelopment Agency, as a guarantor of the lease and payments there under. (Note: the validity of the lease is in dispute). If the Redevelopment Agency is ultiumately responsible to guarantee the lease and make the payments, the liability could be consistent with the amouts shown above. The parties are in discussions and negotiations
<br />to attemptto resolve the issues, without litigation.
<br />Page 2 of 2
<br />
|