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CITY OF SAN LEANDRO <br />CITY COUNCIL SHORELINE -MARINA COMMITTEE <br />June 22, 2010 <br />9:00 a.m. -10:30 a.m. <br />San Leandro City Hall <br />835 East 14th Street <br />San Leandro, California <br />Sister Cities Gallery Room <br />HIGHLIGHTS <br />Committee Members: Mayor Santos, Councilmember Prola and Councilmember Starosciak <br />City staff present: City Manager Hollister, Assistant City Manager Marshall, Community <br />Development Director Sims, Public Works Director Bakaldin, Business <br />Development Manager Battenberg, Facilities and Open Space Manager <br />Pollart, Marina Supervisor Snodgrass, Senior Development Specialist <br />Penaranda <br />Public present: Mary Beasley (intern for Councilmember Starosciak) <br />The meeting was called to order at 9:00 a.m. <br />1. Update on the Shoreline Enterprise Fund <br />City Manager Hollister introduced Public Works Director Bakaldin who gave an update on the <br />Shoreline Enterprise Fund and the Shoreline Fund Debt (see attached Shoreline Fund financial <br />sheets and powerpoint slides). The Enterprise Fund is divided into three divisions: Golf Course; <br />Harbor Operations; and Shoreline Operations. The figures reported were from FY 2005-06 <br />through FY 2010-11. The Harbor division accounts for the majority of the Fund's expenditures. <br />The estimated cash balance on June 30, 2011 will be between zero and $200,000 which is <br />inadequate to sustain the three operations and does not include the cost of disposing of the <br />dredged materials. <br />The Golf Course division generates revenue, although the amount has been. dropping. Golf <br />facilities have been overbuilt in the last 10 years which along with the recession has lead to a <br />reduced number of rounds played. The golf course expenditures include debt payments. In the <br />Harbor division, the revenues have stabilized at approximately $650,000 which covers the cost to <br />operate the harbor, excluding debt service and dredging. The Shoreline Operations division <br />revenues are also down due to the economy. Shoreline Fund Debt includes outstanding loan <br />amounts to CalBoat and the General Fund for both the Golf Course and Harbor Divisions. <br />Councilmember Starosciak stated that the loan from the General Fund should be repaid since the <br />payments come back to serve tax payers. City Manager Hollister replied that there have been two <br />accelerated payments totaling over $1 million to the General Fund to reduce the principal and <br />provide money to the City. <br />