Resolution 15708CITY OF ALAMEDA RESOLUTION NO. 15708
APPROPRIATING $1.5 MILLION FROM THE BASE REUSE FUND FOR THE LOAN
CONVERSION ASSISTANCE PROGRAM AND $315,000 FROM THE GENERAL
FUND TO ASSIST THE ALAMEDA THEATER
WHEREAS, on March 17, 2020, the City Council of the City of Alameda (the "City
Council") adopted Resolution No. 3267, consistent.with Section 3-12 of the City Charter,
declaring the Covid-19 pandemic a local emergency, effective until April?, 2020; and
WHEREAS, on April21, 2020 the urgency measure was extended until the
State's declaration of emergency is rescinded, or sooner should it be appropriate to lift
the local emergency declaration prior to State action; and
WHEREAS, on March 17,· 2020 City Council approved a 60-day rent deferral
program for commercial tenants of City-owned property and, on April 21, 2020, City
Council approved an additional 30-day deferral to provide additional support and
flexibility to tenants; and
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WHERE:AS, on April21, 2020,· City Council approved a COVID-19 Small
Business Relief Grant Program, giving businesses City-wide an opportunity to apply for
$7,500 grants, but it was identified that the program offered little relief to Alameda Point
tenants, who have an average monthly rent of $20,000; and
WHEREAS, on May 19, 2020, City Council approved the Loan Conversion
Program for Alameda Point tenants, which offered Alameda Point tenants, meeting
certain minimum requirements, rent deferral that could be converted to a grant if certain
staff-negotiated and City Manager-approved terms are met. City Council also provided
direction regarding strategies to support the Alameda Theatre Complex; and
WHEREAS, staff reviewed all submitted Loan Conversion Program applications
and recommends $1.5M be appropriated from Base Reuse funds to support Loan
Conversion Program relief to Alameda Point tenants, additional deferred rent repayment
options for non-profit and Spirits Alley tenants, and nine months of rent deferral for the
Alameda Theatre; and
WHEREAS, deferral of the Alameda Theatre rent would require an appropriation
of $315,000 of General Fund to support the Section 1 08 loan for the construction of the
Theater Complex Parking Garage;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Alameda that $1 .5 Million of the Base Reuse Fund Balance be appropriated for the
Loan Conversion Assistance Program and $315,000 of General Fund be appropriated
to assist the Alameda Theater.
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I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda in a regular
meeting assembled on this 6th day of October, 2020, by the following vote to wit:
AYES: Councilmembers Daysog, Oddie, Vella and Mayor Ezzy
Ashcraft -4.
NOES: None.
ABSENT: Vice Mayor Knox White-1.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the official
seal of said City this 7th day of October, 2020.
APPROVED AS TO FORM:
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Lara Weisiger, City Clerk
City of Alameda