pages: CityCouncil/2020-05-19.pdf, 22
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CityCouncil | 2020-05-19 | 22 | Mayor Ezzy Ashcraft stated that she would like a reasonable period of time for repayment. Councilmember Vella expressed support for allowing promissory notes; stated that she would like to further understand financials before COVID-19; expressed concern about a business stating they will be effectively shut down without rent forgiveness; stated that she would like to know the status of the businesses; full-time employee retention must be considered; expressed support for information related to full-time employees receiving benefits, capping the time at three months, the item returning to Council for discussion about any extended time needs, and understanding which businesses continued to operate in some form during the shelter-in-place; stated the program is a last resort, not a bail-out; the City has a limited budget and Council should be cognizant of fiscal decisions; that she would like to have "catalyst business" defined; expressed support for understanding the potential sales tax to be brought in by businesses and whether the business model will change under the new continued restrictions; stated the promissory note option helps protect the City. The City Manager inquired whether Councilmember Vella intends the three month cap to be an additional three months from the original deferral, for a total of six months, to which Councilmember Vella responded in the affirmative. The City Manager stated the item was brought to Council May 19th, in part, to allow for the item to be brought back June 2nd in the event more discussion was needed. Mayor Ezzy Ashcraft stated that she does not want to rush items that are not well thought out; inquired whether Council can provide detailed direction to staff. The Assistant Community Development Director stated tenants are required to provide an extensive list of expense information in order to qualify for the program; tenants will also need to provide a resiliency plan; staff recommends tenants with more than 30 employees and a demonstrated 30% loss be eligible for the program. The Community Development Director stated Council may consider authorizing an amount of loan conversion for staff to negotiate, as well as authorizing a set number of tenants for a set number of months; then, staff can apply the criteria contained in the staff report combined with direction provided. Mayor Ezzy Ashcraft stated that she is unsure how Council will consider the particular amount of assistance. Vice Mayor Knox White stated employees are experiencing loss of wages and jobs; businesses are seeing significant reductions; everyone is struggling and taking cuts during this time; Council can show leadership; the City receives about $1 million in rent each month; expressed support for using the threshold of those that cannot legally use their buildings due to the health order. the length of time for the loan program to be based on how long the business was impacted by the public health order, plus one Special Meeting Alameda City Council 13 May 19, 2020 | CityCouncil/2020-05-19.pdf |