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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br />RESOLUTION NO.2022-225 <br />RESOLUTION OF THE CITY OF SAN LEANDRO CITY COUNCIL TO AUTHORIZE <br />AN APPROPRIATION OF $134,049.82 FROM THE SHORELINE ENTERPRISE GOLF <br />COURSE FUND (596) AND TO APPROVE A $250,399.82 DISBURSEMENT FOR FISCAL <br />YEAR 2021-2022 FOR AMERICAN GOLF CORPORATION'S INCENTIVE MANAGEMENT <br />FEE FOR THE MANAGEMENT OF MONARCH BAY GOLF CLUB <br />WHEREAS, an agreement between the City of San Leandro and American Golf Corporation <br />(AGC) stipulates the City will pay an Incentive Management Fee for the management of Monarch Bay <br />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; and <br />WHEREAS, the Incentive Management Fee is $250,399.82 for the second operating year, July 1, <br />2021 to June 30, 2022; and <br />WHEREAS, Council approved an appropriation of $116,350 in the Shoreline Enterprise Golf <br />Course Fund for the FY 2022-2023 budget and an additional appropriation of funds shall be made to the <br />Golf Course Operation Account 596-56-001-5890 in the amount of $134,049.82. <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as follows: <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, and the City <br />Manager is authorized to take all actions necessary to effect this resolution. <br />Introduced by Mayor Cutter and passed and adopted this 19'h day of December 2022, by the <br />following vote: <br />Members of the Council: <br />AYES: Councilmembers Aguilar, Azevedo, Cox, Lopez, Simon, Mayor Cutter (6) <br />NOES: None (0) <br />RECUSED: Vice Mayor Ballew (1) <br />ATTEST: k' �� JA6�1 <br />Kelly B. Cl cy, Acting City Clqejk <br />