Laserfiche WebLink
IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br /> <br />RESOLUTION NO. 2022- <br /> <br />RESOLUTION OF THE CITY OF SAN LEANDRO CITY COUNCIL TO <br />AUTHORIZE AN APPROPRIATION OF $134,049.82 FROM THE SHORELINE <br />ENTERPRISE GOLF COURSE FUND (596) AND TO APPROVE A $250,399.82 <br />DISBURSEMENT FOR FISCAL YEAR 2021-2022 FOR AMERICAN GOLF <br />CORPORATION’S INCENTIVE MANAGEMENT FEE FOR THE MANAGEMENT OF <br />MONARCH BAY GOLF CLUB <br /> <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 <br />management of Monarch Bay Golf Club; and <br /> <br />WHEREAS, said Incentive Management Fee is 20% of the amount by which net <br />operating income for a given year exceeds $750,000; and <br /> <br />WHEREAS, the Incentive Management Fee is $250,399.82 for the second operating <br />year, July 1, 2021 to June 30, 2022; and <br /> <br />WHEREAS, Council approved an appropriation of $116,350 in the Shoreline Enterprise <br />Golf Course Fund for the FY 2022-2023 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 $134,049.82. <br /> <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br /> <br />The Management Incentive Fee of $250,399.82 and an appropriation from the Shoreline <br />Enterprise Golf Course unrestricted fund balance in the amount of $134,049.82 are approved, <br />and the City Manager is authorized to take all actions necessary to effect this resolution. <br /> <br />Introduced by _______ and passed and adopted this XXth day of XXXX 2022, by the <br />following vote: <br /> <br />Members of the Council: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />ATTEST: <br /> Kelly B. Clancy, Acting City Clerk