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City of San Leandro <br />Meeting Date: December 19, 2016 <br />Staff Report <br />Agenda Section:File Number:16-688 CONSENT CALENDAR <br />Agenda Number:8.L. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for a Loan to the San Leandro Improvement Association in the <br />Amount of $285,000 for the Purpose of Funding Public Improvements in the <br />Downtown <br />SUMMARY AND RECOMMENDATION <br /> Staff recommends that the City Council authorize the City Manager to negotiate and execute <br />a loan agreement with the San Leandro Improvement Association in the Amount of $285,000 <br />at an interest rate of 3% for the Purpose of Funding Public Improvements in the Downtown <br />from the City's General Fund Unrestricted Reserves <br />Background <br />The San Leandro Improvement Association (SLIA) is a public benefit corporation whose <br />primary function is to administer the Downtown San Leandro Community Benefit District <br />(CBD). The Downtown San Leandro Community Benefit District was approved by an <br />overwhelming vote of the affected property owners in July 2013, and authorized by City <br />Council action on July 15, 2013. The SLIA has a contract with the City of San Leandro to <br />administer the revenues for this assessment district. Fiscal Year 2016 revenues for the CBD <br />are anticipated to not exceed $375,000. The District’s first year of operation commenced on <br />December 20, 2013. <br />The special benefit services funded by this CBD include maintaining security, cleanliness and <br />order in the public rights of way, improving district identity, marketing the district, serving the <br />corporations’ administrative needs and advocating on behalf of the area’s property owners, <br />business owners and residents. The CBD is a mandatory assessment district that funds <br />special benefits or services over and above those currently provided by the City of San <br />Leandro. The function of the CBD is also one of an advocacy organization that seeks to <br />improve the overall appearance, building/commercial mix and public space improvements <br />within the district. <br />The District Board of Directors has identified capital projects that it believes would significantly <br />benefit Downtown San Leandro. The most significant of these improvements are a landmark <br />Page 1 City of San Leandro Printed on 12/13/2016