pages: CityCouncil/2008-06-04.pdf, 2
This data as json
body | date | page | text | path |
---|---|---|---|---|
CityCouncil | 2008-06-04 | 2 | had an opportunity to review and discuss the matter before voting; D.E. Shaw is asking to become the City's partner if D.E. Shaw does not trust the Council/Board/Commission to keep the matter confidential, it does not speak well for the beginning of the partnership. Councilmember/Board Member/Commissioner Matarrese stated D.E. Shaw is entering into an agreement with the taxpayers; that he would not be willing to sign a confidentiality agreement ; the matter is in the public realm; the background document should be presented to and discussed in front of the public. Councilmember/Board Member/Commissioner deHaan inquired how there could be an open discussion. The Assistant City Manager responded staff has discussed the matter; the confidentiality issues are D.E. Shaw's issues; staff would discuss the matter with D.E. Shaw's management tomorrow; staff has indicated that the issue would be a problem for the Council/Board/Commission D.E. Shaw is relying on a section of the Exclusive Negotiation Agreement (ENA) that allows confidentiality. Vice Mayor/Board Member/Commissioner Tam stated that she appreciates the concerns i there is an obligation under Section 10 of the ENA that keeps some of the information between SunCal and D.E. Shaw proprietary; inquired what the Council's/Board' Commission's role was when Catellus merged with Palmtree; stated the venture is a multi-party partnership and is a business relationship; the City changes financing partners when doing tax increment funding or refinancing bonds; the developer has been able to secure a financing partner unlike the prior developer. The Assistant City Manager stated the documents were reviewed when Catellus assigned part of its agreement to Palmtree; the CIC had issues and there were concessions; ARRA approved the Operating Agreement between Alameda Point Community Partners and Morgan Stanley; the financials have always been confidential, but the Operating Agreement generally has not been confidential. The Base Reuse and Community Development Division Manager stated SunCal has indicated the Operating Agreement would not be ready for sixty days; staff thought bringing a term sheet first could be helpful to provide direction to SunCal and D.E. Shaw in negotiating the Operating Agreement ; initial direction from the Council/Board/Commission would allow them to focus on issues of key concern; the Operating Agreement would reflect the intent of the Special Joint Meeting Alameda City Council, Alameda Reuse and Redevelopment Authority, 2 and Community Improvement Commission June 4, 2008 | CityCouncil/2008-06-04.pdf |