Laserfiche WebLink
<br /> <br /> 1 <br />OPERATING SUBSIDY AGREEMENT <br /> <br /> THIS OPERATING SUBSIDY AGREEMENT (this "Agreement") is made as of <br />October 30, 2023, by and between the City of San Leandro, a California municipal corporation <br />("City"), and Housing Consortium of the East Bay, a California nonprofit public benefit <br />corporation ("Operator"). <br /> <br />RECITALS <br /> <br /> A. City and Operator have entered into a “Ground Lease,” dated as of October 30, <br />2023, which provides for City to lease to Operator that certain real property located at 555 <br />Lewelling Boulevard, San Leandro (the “Property”). <br /> <br />B. Pursuant to the Ground Lease, Operator will convert the Property into an interim <br />homeless shelter with twenty-nine non-congregate shelter units, navigation center for homeless <br />persons and persons at risk of homelessness, offices for management and services staff, meeting <br />and conference spaces, community room, laundry room, modular trailer for shower services for <br />navigation center clients, modular trailer for office space, parking, landscaping and lighting (the <br />“Project”). <br /> <br />C. The Ground Lease further provides for City and Operator to enter into a separate <br />Operating Subsidy Agreement pursuant to which City will agree to provide specified payments to <br />Operator as necessary for payment of the costs of operation of the Project. <br /> <br /> NOW, THEREFORE, in consideration of the premises and the mutual covenants <br />contained in this Agreement and for other good and valuable consideration, the receipt and <br />adequacy of which is hereby acknowledged, the parties hereto agree as follows: <br /> <br />ARTICLE 1 <br />DEFINITIONS <br /> <br />1.1 Specific Terms. Unless the context otherwise requires, the following capitalized terms <br />(whether singular or plural) shall have the meanings set forth below: <br /> <br /> "Agreement Date" means the date set forth in the first paragraph of this Agreement. <br /> <br /> "Annual Operating Budget" means the operating budget for the Project approved by <br />City attached hereto as Exhibit B, or as otherwise amended by Operator and City. <br /> <br /> "Applicable Laws" means all applicable present or future federal, state, local and <br />administrative laws, rules, regulations, codes, orders and requirements. <br /> <br /> "Assisted Units" means the residential units at the Project. <br /> <br /> "City" means the City of San Leandro. <br /> <br /> "Effective Date" means the Initial Occupancy Date. <br />DocuSign Envelope ID: FD5B6EFC-4700-4210-9102-207694C552B7