Laserfiche WebLink
City Council - 3 - October 15, 1997 <br />CONCLUSION <br />The LAVWMA member agencies have ratified a "Principles of Agreement for LAVWMA <br />Expansion Project" which will enable LAVWMA to meet the terms of EBDA's final offer <br />transmitted in February 1997 and submitted a draft formal agreement to EBDA. The City of <br />San Leandro would receive 14.8 percent of a $10,000,000 capital buy -in fee. LAVWMA would <br />make an initial $3,000,000 payment. San Leandro would receive $444,000 as their portion of the <br />initial payment. The remaining $7,000,000 payment will be made in equal installments, with <br />interest varying between 3% and 6% based on CPI, over a 30-year term. Lewelling Blvd would <br />be landscaped as mitigation to the project. <br />Council is requested to give direction to its EBDA representative, Councilmember Galvan, to <br />approve an agreement between LAVWMA and EBDA if the agreement is in substantial <br />conformance with the attached draft agreement and to consider any additional mitigation <br />measures to the project. <br />201 <br />