pages: CityCouncil/2020-05-20.pdf, 12
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CityCouncil | 2020-05-20 | 12 | The Assistant Community Development Director responded staff is looking for Council to provide benchmarks; stated staff would like to begin the program as soon as possible; noted the deferral program ends in June; stated staff will begin negotiations, and provide budget updates in the first quarter of the new fiscal year. In response to Mayor Ezzy Ashcraft's inquiry, the Assistant Community Development Director stated cross defaulted means should a tenant default on a promissory note, it is also a default on the lease. Mayor Ezzy Ashcraft inquired whether a tenant defaulting on the promissory note must repay the loan, to which the Assistant Community Development Director responded the City has the option to evict. Questioned whether sole proprietor businesses will be included in the fund: Jonathan Belkalifa's wife, Alameda. Public comment read into the record: Expressed support for a loan forgiveness program; urged Council to discuss the program further: Jim Strehlow, Alameda. Mayor Ezzy Ashcraft stated flexibility is important; expressed support for individualized assistance; stated each business has different needs. Councilmember Daysog stated that he received correspondence from the owner of Rock Wall Winery; expressed support for using job retention and catalyst businesses as benchmarks; stated that he does not support subletting; noted many subleases are for container cargos. Councilmember Oddie inquired when the item will return to Council. Mayor Ezzy Ashcraft responded Vice Mayor Knox White inquired about the timeline; stated staff must work quickly due to deferrals ending in June. The Assistant Community Development Director stated the goal is not to bring the item back; staff would like to implement the program and provide a report back to Council in the fall. Councilmember Oddie expressed support for converting deferred rent into a promissory note; expressed concern about not having a cap; stated a tenant could request a deferral for up to 18 months; staff could determine whether the deferral could be converted into 50% forgiveness and 50% into a grant or 100% forgiveness; expressed concern about providing a blank check; stated that he likes the concept of a promissory note with an extended due date. Special Meeting Alameda City Council 12 May 19, 2020 | CityCouncil/2020-05-20.pdf |