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City of San Leandro <br />Meeting Date: December 6, 2021 <br />Resolution - Council <br />Agenda Section:File Number:21-685 CONSENT CALENDAR <br />Agenda Number: <br />TO:City Council <br />FROM:Fran Robustelli <br />City Manager <br />BY:Debbie Pollart <br />Public Works Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:RESOLUTION of the City of San Leandro City Council Approving an <br />Appropriation of $260,834.19 from the Shoreline Enterprise Golf Course Fund <br />(596); and to Approve a $360,234.19 Disbursement for Fiscal Year 2020-2021 <br />for American Golf Corporation’s Incentive Management Fee for the Management <br />of Monarch Bay Golf Club <br />WHEREAS, an agreement between the City of San Leandro and American Golf <br />Corporation (AGC) stipulates the City will pay an Incentive Management Fee for the management <br />of Monarch Bay Golf Club; and <br />WHEREAS, said Incentive Management Fee is 20% of the amount by which net operating <br />income for a given year exceeds $750,000; <br />WHEREAS, the Incentive Management Fee is $360,234.19 for the first operating year, <br />June 2, 2020 to June 30, 2021 (13 months); and <br />WHEREAS, Council approved an appropriation of $99,400 in the Shoreline Enterprise <br />Golf Course Fund for the FY 2021-2022 budget and an additional appropriation of funds shall be <br />made to the Golf Course Operation Account 596-56-001-5890 in the amount of $260,834.19; <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br />That the Management Incentive Fee of $360,234.19, and an appropriation from the <br />Shoreline Enterprise Golf Course unrestricted fund balance in the amount of $260,834.19, are <br />approved. <br />Page 1 City of San Leandro Printed on 12/2/2021 <br />67