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File Number: 17-313 <br />Mayor Cutter asked if we could ask the City of Hayward about their current RFP/RFQ <br />proposals received. Also, Mayor Cutter is requesting a report on how much it would cost, in <br />staff hours, to conduct an RFP/RFQ. <br />17-267 Discussion of Financial Assistance Package for the BAL <br />Theatre <br />Assistant City Manager Kay provided information, as requested by Council at their annual <br />retreat, on assisting the BAL Theatre financially. The most urgent financial need is the <br />mortgage balloon payments of $400k due this year. There is an interest in refinancing to a <br />long-term structure and the City is proposing a long-term loan of 30 years at 3% for the $400k. <br />The loan will be to the Dillman family as the owners of the BAL Theatre, secured by the Deed <br />of Trust. <br />There is also a physical need of the theatre and the City may provide a forgivable loan based <br />on an agreeable amount and on the requirement that the improvements be maintained; the <br />proposed amount is $100k. <br />Dan Dillman stated how appreciative he is to the Council for all that has been done and the <br />willingness to continue to help improve the BAL Theatre. Mr. Dillman provided a list of <br />improvements that can be made to the theatre. Mr. Dillman is requesting that the interest rate <br />be at 1% not 3% and perhaps a change in terms of the traditional loan as well as the <br />forgivable loan. <br />Both Mayor Cutter and Councilmember Lee support providing a loan and working with the <br />BAL Theatre. <br />Mayor Cutter would like the community to provide input and believes the loan should be <br />secured by Mr.Dillman’s property. In addition, Mayor Cutter has asked Mr. Dillman to <br />prioritize the list of improvements. <br />3. PUBLIC COMMENTS <br />Bryan Azevedo stated that he supports divesting from Wells Fargo. <br />Maureen Forney stated she appreciates the stance the City Council has taken and the steps <br />the City is taking for sustainability and the future of the City. <br />Virginia Madsen provided information regarding the transportation of oil and gas that is <br />transported through the pipeline from tar sands. She supports divesting from Wells Fargo. <br />A resident spoke on the corrupt actions of Wells Fargo in opening fake accounts. <br />Jeromey Shafer, resident, stated this not a symbolic gesture but an act of resistance against <br />catastrophic eventualities and there is a moral obligation to commit to the reduction of CO2 <br />emissions. <br />Page 3 City of San Leandro Printed on 5/30/2017 <br />87