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10C Action Items 2017 1016
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10C Action Items 2017 1016
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10/16/2017
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File Number: 17-560 <br />Next Steps - After execution of the loan agreements, City staff and Curtain Call have agreed to <br />work on a Memorandum of Understanding (MOU) and an Economic Impact Analysis. The MOU <br />will outline terms of an extended partnership and provide a basis for the City and the BAL to work <br />together to secure grant funding for additional improvements in the future. The MOU may also <br />detail an extended joint-use arrangement. The Economic Impact Analysis will provide a <br />quantitative assessment of the BAL’s contributions to the San Leandro economy and the potential <br />return on investment from future investments. <br />Previous Actions <br />• July 5, 2016 - City Council recommended staff present to the Facilities and Transportation <br />Committee <br />• January 28, 2017 - City Council Special Meeting and Planning Session presentation <br />City Council Committee Review and Actions <br />• October 19, 2016 - Facilities and Transportation Committee recommended staff work with <br />the BAL Theatre to draft a proposed funding agreement and that the draft be brought to the <br />committee for review and discussion <br />• May 2, 2017 - Finance Committee recommended staff work with representatives of the <br />BAL and Curtain Call Performing Arts to create a two-part package of financial assistance <br />to assist with 1) December 2017 balloon payment of $400,000 and 2) a forgivable loan <br />agreement to assist with renovations <br />• October 3, 2017 - Finance Committee recommended approval of the two-part package of <br />financial assistance for the BAL Theatre that includes 1) a $400,000 Loan Agreement and <br />2) a $100,000 Forgivable Loan Agreement for renovations <br />Permits and/or Variances Granted <br />PLN2008-00048 Conditional Use Permit <br />PLN2012-00021 Conditions of Approval <br />Legal Analysis <br />The General Fund Loan and Forgivable Loan Agreements were reviewed by the City Attorney <br />and approved as to form. <br />Fiscal Impacts <br />The Two-Part Package of Financial Assistance for the BAL Theatre will cost $500,000. The <br />$100,000 forgivable loan is included in the adopted 2017-2019 budget. The General Fund loan of <br />$400,000 does not need to be budgeted as an expenditure. <br />Page 5 City of San Leandro Printed on 10/10/2017 <br />214
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