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File Number: 17-560 <br /> Although the budgeted expenditure for this action amount to $100,000, issuance of the $400,000 <br />loan does result in a long-term reduction in liquidity for the City because those funds will not be <br />available for other uses for up to 30 years. <br />It must also be noted that the loans come with risk for the City. Almost by definition, Curtain Call is <br />a non-profit organization that is not well capitalized. Although both staff and the City Council are <br />encouraged by the work being done by Curtain Call and the value it brings to the community, <br />continued solvency is not a foregone conclusion. Thus, in reviewing this action, Council must <br />balance the value of investing in a cultural asset with the risk that the loan may not be repaid in full. <br />ATTACHMENT(S) <br />Attachment(s) to Staff Report <br />• Attachment 1 - Title Report <br />• Attachment 2 - Appraisal Report <br />Attachment(s) to Resolution <br />• Traditional Loan Agreement ($400,000) <br />• Forgivable Loan Agreement ($100,000) <br />PREPARED BY: Mariana Garcia, Economic Development Specialist <br />Page 6 City of San Leandro Printed on 10/10/2017 <br />215