pages: CityCouncil/2020-10-06.pdf, 19
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CityCouncil | 2020-10-06 | 19 | The Community Development Director stated the promissory note will be cross collateralized against the lease under the $1.5 million loan forgiveness program; a tenant will need a lease by definition; should staff have the ability to cross collateralize against a long-term license, an exception can be made since the agreement serves the same principal and will work as the definition of "tenant" under the criteria. Councilmember Vella expressed support for the motion; stated that she supports the City Manager's proposal to bring lease amendments back to Council for approval; requested clarification whether the motion includes the lease amendments returning to Council for approval. Mayor Ezzy Ashcraft inquired whether the addition could be considered as Council direction to staff and keep the motion as-is. Councilmember Vella stated that she supports Mayor Ezzy Ashcraft's comments as long as the directive is clear. The Community Development Director stated staff sympathizes with the need for transparency; questioned whether Council would be amenable to a report out, which will ensure documentation and reporting; lease amendments are completed via ordinance. Mayor Ezzy Ashcraft requested clarification about the contents of the report out. The Community Development Director stated the deal structure would be provided; staff can work with the City Attorney in order to be as transparent as possible with the report. Mayor Ezzy Ashcraft inquired whether there is legal cause for concern regarding reporting out. The City Attorney responded staff is proposing no fundamental changes to the lease within the program; stated staff is engaging in deferment and forgiveness; leases will remain the same; Council could delegate authority to the City Manager in the event no fundamental changes are made to leases; if fundamental changes be made to the substance of the lease, Council approval would be needed; delegation to staff for deferment or forgiveness may be granted; however, lease structure changes must be voted on by Council approval via ordinance. Mayor Ezzy Ashcraft inquired whether the transaction details are cause for concern in a report out. The City Attorney stated when a City executes an agreement, the agreement is a public record and is public information whether executed with City Manager or in a public meeting. Regular Meeting Alameda City Council 17 October 6, 2020 | CityCouncil/2020-10-06.pdf |