My WebLink
|
Help
|
About
|
Sign Out
Home
8N Consent 2018 1119
CityHall
>
City Clerk
>
City Council
>
Agenda Packets
>
2018
>
Packet 2018 1119
>
8N Consent 2018 1119
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/14/2018 9:45:20 AM
Creation date
11/14/2018 9:45:20 AM
Metadata
Fields
Template:
CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
11/19/2018
Retention
PERM
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
4
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Download electronic document
View images
View plain text
City of San Leandro <br />Meeting Date: November 19, 2018 <br />Staff Report <br />Agenda Section:File Number:18-552 CONSENT CALENDAR <br />Agenda Number:8.N. <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:Debbie Pollart <br />Public Works Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for a City of San Leandro City Council Resolution to Amend the <br />5-Year Project Plan for Golf Course Capital Improvements at Monarch Bay Golf <br />Club and to Authorize an Appropriation of $476,000 from the Golf Course Capital <br />Improvement Fund for Capital Improvements at Monarch Bay Golf Club <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council approve a Resolution to amend the 5-year project plan for <br />the Monarch Bay Golf Club and to approve an appropriation from the Golf Course Capital <br />Improvement Project (CIP) Fund in an amount not to exceed $476,000 for planned capital <br />improvements for FY 2019 at Monarch Bay Golf Club. <br />BACKGROUND <br />American Golf Corporation (AGC) entered into a lease agreement with the City of San Leandro <br />(City) for the renovation and operation of the San Leandro Golf Facility (Monarch Bay Golf Club) <br />on November 15, 1997. AGC’s 20-year lease agreement with the City included an $8.1 million <br />renovation of the Tony Lema Golf Course, Marina Golf Course and the Everett Rooney Driving <br />Range. AGC completed the renovation in 2001. AGC’s lease agreement also states AGC shall <br />maintain and operate Monarch Bay Golf Club and, in return, pay the City a percentage rent on all <br />gross revenues derived from the golf facility. <br />Section 13.9, Establishment of Capital Improvement Fund, of AGC’s lease with the City indicates <br />that the City and AGC will establish a Capital Improvement Fund (CIP Fund). The purpose of the <br />CIP Fund will be to refurbish and improve the Golf Facility. As long as the total unexpended CIP <br />Fund is less than $500,000, the Parties will deposit into the CIP Fund annually, in arrears, an <br />amount equal to four percent (4%) of gross green fee, cart fee and driving range fee revenues for <br />such Lease Year. One-half of such amount will be deposited by AGC and one-half of such amount <br />will be deposited by the City. <br />Page 1 City of San Leandro Printed on 11/13/2018
The URL can be used to link to this page
Your browser does not support the video tag.