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City of San Leandro, Redevelopment Successor Agency
<br />Recognized Obligation Payment Schedule, for January -June 2013
<br />n
<br />Estimated Balance
<br />Start Date End Date as of 1/1/2013
<br />Capital Improvement Proiects (payment amounts by month are estimates only)
<br />City of San Leandro Joint Cooperative Agreement to Fund Garage 10/1/2008 10/1/2012 $
<br />Construction - $11,450,000 (Res 2010 -009 RDA),
<br />plus Purchase Agmt for 262 Davis (Res 2008 -023
<br />RDA)
<br />Bay Area Escrow Services Joint E14th /Hesperian Triangle Project - Revolving Fund 3/5/2010 Until complete
<br />Escrow Agreement for Site Remediation (cost is an
<br />estimate, could vary)
<br />SideB Corporation /Quality Lube /Various Joint Relocation Assistance Triangle Project (Fed - Title 10/6/2009 Until complete
<br />49 - Code of Federal Regulations; CA Code
<br />Regulations - Title 25, Div. 1, Ch 6, CA Govt Code
<br />sec 7260 et seq.; CA Code of Civil Procedure sec
<br />1263.510)
<br />$ 299,996.00
<br />1 $ 58,139.00
<br />Alameda Housing Associates
<br />Hsg
<br />Funding Agreement for "The Alameda." Owner
<br />4/6/2009
<br />TBD
<br />$
<br />6,359,324.00
<br />Participation and Loan Agreement and Associated
<br />Legal Costs (Res. 2009 -009 RDA)
<br />City of San Leandro
<br />WSL
<br />Cooperative Agreement for Eden Road
<br />1/17/2011
<br />7/1/2013
<br />$
<br />1,500,000.00
<br />construction (Res 2011 -001 RDA)
<br />City of San Leandro
<br />WSL
<br />Cooperative Agreement for Doolittle Drive
<br />1/17/2011
<br />1/1/2017
<br />$
<br />4,193,611.00
<br />Streetscape Improvements (Res 2011 -001 RDA)
<br />City of San Leandro
<br />WSL
<br />Cooperative Agreement for MacArthur Boulevard
<br />1/17/2011
<br />1/1/2014
<br />$
<br />1,274,134.00
<br />Streetscape Improvements (Res 2011 -001 RDA)
<br />City of San Leandro
<br />Plaza
<br />Cooperative Agreement for Hays Street
<br />1/17/2011
<br />7/1/2016
<br />$
<br />2,000,000.00
<br />Streetscape Improvements (Res 2011 -001 RDA)
<br />Jan 2013 Feb 2013 Mar 2013
<br />2013 May 2013 Jun 2013 Total I Funding Source
<br />1$ - $ - $ - $ - $ - $ - $
<br />$ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 30,000.00
<br />1 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 30,000.00
<br />$
<br />97,416.67 $
<br />97,416.67 $
<br />97,416.67 $
<br />97,416.67 $
<br />97,416.67 $
<br />97,416.67 $ 584,500.00
<br />Bond Proceeds
<br />Bond Proceeds
<br />Bond Proceeds
<br />RDA PT Trust Fund
<br />No payments this period
<br />No payments this period
<br />No payments this period
<br />No payments this period
<br />Total Paid from Existing Housing Set -Aside Fund Balance $
<br />Total Paid from Existing Bond Proceeds $ 60,000.00
<br />Total Paid from Redevelopment Property Tax Trust Fund $ 3,271,353.62
<br />Administrative Allowance (3% of Redev. Property Tax Trust Fund, or $125k) $ 125,000.00
<br />Total Expenditures $ 3,456,353.62
<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 />1 Principal balance only. Interest costs will be additional for some items.
<br />Z 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 & J 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 attempt to resolve the issues, without litigation.
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