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GPA Regency Beauty Source African Queen 06222022
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GPA Regency Beauty Source African Queen 06222022
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6/26/2024 5:28:34 PM
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8/9/2022 12:35:10 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
6/22/2022
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DocuSign Envelope ID: 69563A2E-D56B-4EC2-A2AC-05A1BDOA1006 <br />SAN LEANDRO SMALL BUSINESS RECOVERY GRANT PROGRAM AGREEMENT <br />This Agreement is made and entered into this 22nd day of June, 2022 (the "Effective Date") by <br />and between the City of San Leandro, a municipal corporation ("City'), and Regency Centers, L.P., a <br />Deleware Limited partnership ("Commercial Landlord") which is the commercial landlord and owner of <br />the property located at 1327 Washington Ave San Leandro, CA 94577 ("Property") (together sometimes <br />referred to as the "Parties"). <br />RECITALS <br />A. In support of community recovery from the local emergency in the City of San Leandro <br />related to the COVID-19 pandemic, the City has established a Commercial Rent Relief Grant Program, <br />which is a financial assistance program that provides up to $15,000 in relief funds per lessee to a <br />commercial landlord. The City Council directed up to $750,000 from the American Rescue Plan Act funds <br />to cover the costs of this program. <br />B. The City has agreed to provide funds as an incentive for commercial landlords to create <br />repayment plans for unpaid lease payments for small businesses including Beauty Source African Queen <br />("Small Business Tenant") that have been negatively impacted by the COVID-19 pandemic rather than <br />pursuing an eviction of the Small Business Tenant. <br />C. This program is intended to assist commercial landlords, many of whom are local small <br />business owners themselves, to pay their fixed costs and leverage City funds to provide additional relief <br />to tenants experiencing a loss of income due to COVID-19-related partial or complete closure of their <br />businesses. <br />D. The Commercial Landlord has submitted a signed document showing the amount of <br />unpaid rent owed by the Small Business Tenant, as well as a repayment plan agreed to by the <br />Commercial Landlord and Small Business Tenant for rent due in excess of the assistance being provided, <br />as applicable, attached hereto as Exhibit A. The City has reviewed and considered these documents and <br />has selected the applicant as a recipient of funds pursuant to the terms of this Agreement. <br />AGREEMENT <br />NOW THEREFORE, in consideration of the mutual covenants contained herein, City and <br />Commercial Landlord hereby agree that the aforementioned recitals are true and correct and further <br />agree as follows: <br />1. Distribution of Grant Funds. City shall provide the Commercial Landlord with Thirteen Thousand <br />Sixty Five Dollars and Ninety Five Cents ($13,065.95 ) ("Grant Funds") as payment for all or a portion <br />of the unpaid rent due from the Small Business Tenant that accrued during the state of local <br />emergency related to the COVID-19 pandemic. The balance of unpaid rent owed by the Small <br />Business Tenant to the Commercial Landlord shall be decreased by the same amount as the Grant <br />Funds. <br />a. It is agreed and understood that City shall pay the Grant Funds to the Commercial Landlord <br />directly or to such entity identified below. Unless otherwise provided herein, the Grant <br />San Leandro Small Business Recovery Grant Program Agreement <br />Page 1 of 6 <br />
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