GPA Cinco Taco 05182022 (2) - Laserfiche WebLink

Home

San Leandro Small Business Recovery Grant Program Agreement Page 1 of 6 SAN LEANDRO SMALL BUSINESS RECOVERY GRANT PROGRAM AGREEMENT This Agreement is made and entered into this _18_ day of __May_________, 2022 (the “Effective Date”) by and between the City of San Leandro, a municipal corporation (“City”), and PK I Fashion Fair Place LP, a Delaware limited partnership (“Commercial Landlord”) which is the commercial landlord and owner of the property located at 15100 Hesperian Blvd, Suite 308, San Leandro , CA 94578 (“Property”)(together sometimes referred to as the “Parties”). RECITALS A. In support of community recovery from the local emergency in the City of San Leandro related to the COVID-19 pandemic, the City has established a Commercial Rent Relief Grant Program, which is a financial assistance program that provides up to $15,000 in relief funds per lessee to a commercial landlord. The City Council directed up to $750,000 from the American Rescue Plan Act funds to cover the costs of this program. B. The City has agreed to provide funds as an incentive for commercial landlords to create repayment plans for unpaid lease payments for small businesses including Vive! Restaurant Group INC (Cinco Taco Bar) (“Small Business Tenant”) that have been negatively impacted by the COVID-19 pandemic rather than pursuing an eviction of the Small Business Tenant. C. This program is intended to assist commercial landlords, many of whom are local small business owners themselves, to pay their fixed costs and leverage City funds to provide additional relief to tenants experiencing a loss of income due to COVID-19-related partial or complete closure of their businesses. D. The Commercial Landlord has submitted a signed document showing the amount of unpaid rent owed by the Small Business Tenant, as well as a repayment plan agreed to by the Commercial Landlord and Small Business Tenant for rent due in excess of the assistance being provided, as applicable, attached hereto as Exhibit A. The City has reviewed and considered these documents and has selected the applicant as a recipient of funds pursuant to the terms of this Agreement. AGREEMENT NOW THEREFORE, in consideration of the mutual covenants contained herein, City and Commercial Landlord hereby agree that the aforementioned recitals are true and correct and further agree as follows: 1.Distribution of Grant Funds. City shall provide the Commercial Landlord with Fourteen Thousand Three Hundred Fifty Five Dollars and Eighty Four Cents ($14,355.84 ) (“Grant Funds”) as payment for all or a portion of the unpaid rent due from the Small Business Tenant that accrued during the state of local emergency related to the COVID-19 pandemic. The balance of unpaid rent owed by the Small Business Tenant to the Commercial Landlord shall be decreased by the same amount as the Grant Funds. a.It is agreed and understood that City shall pay the Grant Funds to the Commercial Landlord directly or to such entity identified below. Unless otherwise provided herein, the Grant DocuSign Envelope ID: 55252A5B-554A-43CC-8BF7-AA7CFB82FBA9