pages: CityCouncil/2009-12-02.pdf, 2
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CityCouncil | 2009-12-02 | 2 | to reimburse; a ledger should be prepared showing the balance of the reimbursements on both sides; $2 million was spent on the hospital that burned down; all future updates should show the balance on both sides. The Economic Development Director continued the presentation. Chair Johnson inquired what Catellus is supposed to be doing now. The Economic Development Director responded Catellus is supposed to be moving forward with the project; stated milestones provide outside deadlines i new design review is needed for the alternative first phase; continued the presentation. Chair Johnson requested information on the number of people employed for the Stargell project. Commissioner Tam stated $3 million was borrowed from the Sewer Fund because Catellus was not able to provide the match for the STIP; inquired how the amount would be repaid. The Economic Development Director responded lease revenues from the Fleet Industrial Supply Center (FISC) budget stated a minimum of $90,000 has to be repaid each year; however, the plan is to repay the full amount in five years. Commissioner Tam stated that she was asking about the Sewer Fund because letters have been received about rat infestations at Alameda Point; there have been sewer overflow issues; that she is concerned about repayment in the event a major repair is needed. The Economic Development Director stated lease revenues from ARRA cover Alameda Point; funds are separate. The Interim Executive Director stated there are questions about whether the rat infestation is the ARRA portion of the sewer or somewhere else; the matter could be addressed later; the loan was done because staff felt it was important to protect STIP funding. the Public Works Director would address the Sewer Fund at a later time. Commissioner Matarrese stated the CIC has to repay the Sewer Fund; inquired whether CIC funds are vulnerable to State taking, to which the Economic Development Director responded in the affirmative; stated FISC funds would be used first. Special Joint Meeting Alameda City Council, Alameda Reuse and Redevelopment Authority and 2 Community Improvement Commission December 2, 2009 | CityCouncil/2009-12-02.pdf |