pages: CityCouncil/2013-09-17.pdf, 11
This data as json
body | date | page | text | path |
---|---|---|---|---|
CityCouncil | 2013-09-17 | 11 | the loan because the interest rate would most likely be lower than the bond. Councilmember Chen inquired whether the loan would impact the District's bond rating, to which the Finance Director responded it should not; provided information on interest rates. Councilmember Chen stated that he is very comfortable with the interest rate, which is very good; securing the loan with collateral should not be a problem; the collateral would not be touched if the School District pays the City back. The Finance Director stated the City has never issued any lease or bonds without collateral; auditors might consider the amount an expenditure if a loan is not done. Councilmember Chen inquired when staff was provided with the letter from the School District, to which the Recreation and Parks Director responded today at 3:15 p.m. Councilmember Tam stated that she appreciates the need for a pool; discussing the best and highest use is prioritizing; the City is resource constrained and has to decide what will not be funded if the loan is made; requested staff to elaborate on the option to pursue an aquatic facility at Alameda Point if the School District does not accept the terms by October 18th The Recreation and Parks Director stated staff tentatively explored an indoor pool adjacent to the Navy gym; the site would require complete renovation and the existing pool would have to be taken out; work needs to be done to establish an accurate cost estimate; negotiations will cease in 30 days if resolution is not reached and staff would move forward with finding a way to build a City pool. Councilmember Tam inquired whether the project differs from the Alameda Point Sports Complex, to which the Recreation and Parks Director responded the Sports Complex Master Plan includes the pool at the same Alameda Point location; the building shell would be used; noted cost recovery for an indoor pool is much higher. Mayor Gilmore stated the funds would not automatically be shifted to an Alameda Point pool if the School District does not accept the loan offer; there is $750,000 which could be used to complete designs; however, the project funds would have to be appropriated; a lack of security when granting funds would be a deal breaker for her. Urged the Council to approve the staff recommendation to allow the deal to be completed by October 18th: Kevin Gorham, Alameda. Urged greater cooperation and that the resolution be rewritten and brought back: Donald Krause, Alameda Island Aquatics. Mayor Gilmore noted the two meetings referenced by the Recreation and Parks Director were the Council/School Board subcommittee meetings and did not include the Regular Meeting Alameda City Council 6 September 17, 2013 | CityCouncil/2013-09-17.pdf |