pages: CityCouncil/2020-10-06.pdf, 20
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CityCouncil | 2020-10-06 | 20 | Councilmember Vella stated that she supports the authority, except for anything over $150,000 for an individual tenant; expressed concern about inconsistency in rent deferment. The Community Development Director stated every applicant being reviewed will be over $150,000. Councilmember Vella inquired whether the figure is for deferment or forgiveness. The Community Development Director responded one month rent for a tenant could be $60,000; stated requesting a two month abatement would be $120,000; the challenge is in dealing with large monthly rents; recommended a cap of $350,000 in abatement prior to Council approval. Councilmember Vella stated the report indicates tenant rents ranging from $20,000 to 60,000; inquired whether most tenants are closer to the $60,000 figure. The Assistant Community Development Director responded some tenants are closer to the $30,000 range; staff is considering an average amount which also includes smaller tenants; however, some tenants to have a monthly rent of $60,000. The City Manager stated Council may continue with the motion and include that any forgiveness must return for Council approval if the business negotiates forgiveness; the final details will come back as a lease amendment to Council for approval; expressed concern about the process being confusing; stated lease amendments returning to Council is a clear process. The City Attorney expressed support for the City Manager's comments; stated the recommendation is legally sound; if Council provides the City Manager the opportunity to forgive, not collecting bad debt is possible, which is more complicated and messy. Councilmember Vella expressed support for the staff recommendation. Councilmember Oddie stated that he supports the staff recommendation; expressed concern about five large tenants taking the entire amount of money; accepted amending his motion to include the requirement proposed by the City Manager: should businesses negotiate a lease forgiveness, the final details will come back to Council for approval as a lease amendment. Councilmember Vella seconded the amended motion, which carried by the following roll call vote: Councilmembers Daysog: Aye; Oddie: Aye; Vella: Aye; and Mayor Ezzy Ashcraft: Aye. Ayes: 4. [Absent: Vice Mayor Knox White - 1.] CITY MANAGER COMMUNICATIONS (20-647) The City Manager introduced the new Finance Director Annie To and Interim Regular Meeting Alameda City Council October 6, 2020 18 | CityCouncil/2020-10-06.pdf |