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Minutes - San Leandro City Council Meeting - August 15, 1994 Page - 8 - NEW BUSINESS (continuedi She said this would be a big gain for San Leandro. It would mean giving up $48,000-$50,000 a year of personal property tax for five years, but the City would enjoy many other benefits from the company. Adrian Gonzalez, Senior Vice President introduced Mary Ann Moran, Counsel for West Coast Video. He said it has been a pleasure working with the City of San Leandro, and staff has been extremely cooperative. He said his company is the third largest manufacturer of pre-recorded video cassettes in the country. They produce 50 million cassettes a year. He said this resolution would help defray their costs and thanked the City for working with them. Mayor Corbett said this goes a long way toward diversifying the City's economy and bringing business to town. Council Member Myers said this is an important part of economic development and a chance to do something beneficial for the industrial area. He said this is a plus for the City. The following Resolution was then introduced: Resolution No. 94-164, Resolution of the City Council of the City of San Leandro Authorizing, Pursuant to Revenue and Taxation Code Section 5108, a Rebate of All of the Property Tax Revenue That the City Would Receive from Westcoast Video Duplicating, Inc. , for Economic Revitalization Manufacturing Property for a Period of Five (5) Fiscal Years (authorizes a five-year rebate of the City's share of personal property tax from Westcoast Video Duplicating, Inc. , as incentive for locating 600 jobs in San Leandro) . (1170) Introduced by Council Member Myers, who moved its adoption, seconded by Council Member Perry, and carried by a majority vote (7) . D. Ordinance No. 94-017, An Ordinance of the City Council of the City of San Leandro Approving Amendments to the Alameda County/City of San Leandro Redevelopment Plan (establishes by ordinance various time limits, as required by law [AB 1290] , for redevelopment project activities in the Plaza 1, Plaza 2, and Joint County of Alameda/City of San Leandro project area) . (1120) Introduced by Council Member Perry, who moved that it be passed to print as amended, seconded by Council Member Polvorosa, and carried by a majority vote (7) .