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annual appropriation by the City Council; and <br /> <br /> WHEREAS, the City Council desires to approve the Ground Lease and Operating Subsidy Agreement <br />and authorize the City Manager to negotiate the final detailed terms of such agreements. <br /> <br /> NOW THEREFORE, the City Council of the City of San Leandro does RESOLVE that: <br /> <br />1. The above Recitals are true, correct, and made a part of this Resolution; and <br /> <br />2. The City Council approves the Ground Lease with HCEB for the lease of 555 Lewelling for a term of <br />5 years, with the possibility of up to 5 one-year extensions, with an annual rent of $1 per year, and <br />a rehabilitation grant in an amount not to exceed $5.2 million; and <br /> <br />3. The City Council approves the Operating Subsidy Agreement with HCEB for a total amount not to <br />exceed $9.6 million over the 5 year term of the agreement, subject to the annual appropriation by <br />the City Council; and <br /> <br />4. The City Manager is authorize to execute the Ground Lease with Rehabilitation Grant and <br />Operating Subsidy Agreement in substantially the form on file with the City Clerk, and to negotiate <br />edits and changes to both agreements, subject to approval as to form by the City Attorney; and <br /> <br />5. The City Manager is authorized and directed to take all other actions necessary to carry out the <br />purpose and intent of this resolution. <br /> <br /> <br />Introduced by Councilmember _______________ and passed and adopted this 16th day of October 2023, <br />by the following vote: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br /> <br />ATTEST: _____________________________________ <br />Kelly B. Clancy, CMC <br />City Clerk DRAFT