Laserfiche WebLink
1 <br /> 3239132.3 City Loan Agreement <br />CAPITAL IMPROVEMENT LOAN AGREEMENT <br />BETWEEN THE CITY OF SAN LEANDRO AND <br />SAN LEANDRO BOYS AND GIRLS CLUB, INC. <br />This Capital Improvement Loan Agreement (this “Agreement”) is entered into as of __________, 2019 <br />(“Effective Date”) by and between the City of San Leandro, a California charter city (“City”), and San Leandro <br />Boys And Girls Club, Inc., a California nonprofit corporation (“Borrower”). City and Borrower are hereinafter <br />collectively referred to as the “Parties.” <br />RECITALS <br />A. Borrower is a local nonprofit organization that provides services to the community. <br />B. Borrower has a right granted by City to occupy and operate its programs and services upon that <br />certain real property located at 401 Marina Boulevard, San Leandro, California, legally described in Exhibit A(the <br />“Property”). <br />C. Borrower’s goal is to construct capital improvements related to the Property, as described under <br />the scope of work, attached hereto as Exhibit B and incorporated herein, including modernizing locker rooms <br />and meeting spaces, as well as other infrastructure upgrades, and seeks City’s assistance to accomplish this <br />goal (the “Improvements”). <br />D. City provides loans to qualified local nonprofit organizations like Borrower in order to assist such <br />organizations with capital improvement projects that serve the public welfare. <br />E. As a qualified local nonprofit organization, Borrower is eligible to receive a loan from the City’s <br />General Fund to construct the Improvements (the “Loan”), and that providing the Loan to Borrower is in the <br />public interest because Borrower provides public benefits. <br />F. Concurrently herewith Borrower shall execute a promissory note (the “City Note”) in the <br />amount of the City Loan. This Agreement and the City Note are collectively hereinafter referred to as the <br />“Loan Documents.” <br />H. The California Environmental Quality Act (Public Resources Code Sections 21000 et seq.) <br />(“CEQA”) imposes no conditions on the City's consideration and approval of this Agreement because the <br />Improvements are exempt from CEQA requirements under the categorical exemption set forth in 14 California <br />Code of Regulations Section 15303(b). <br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby <br />acknowledged, the Parties hereto agree as follows: <br />ARTICLE I <br />LOAN TERMS; USE AND DISBURSEMENT OF PROCEEDS <br />1.1 LOAN. City agrees to loan to Borrower, and Borrower agrees to borrow from City a sum of <br />up to Three Hundred Thousand Dollars ($300,000.00) (the “City Loan”) upon the terms and conditions and <br />253