Resolution 09881CITY OF ALAMEDA RESOLUTION NO. 9831
AUTHORIZING EXECUTION OF. AGREEMENT BETWEEN THE CITY
OF ALAMEDA AND PIEDMONT ASSOCIATES FOR ITS SERVICES
IN CONNECTION WITH FINANCIAL ARRANGEMENTS AND
EVALUATION OF ALAMEDA MARINA VILLAGE .ASSOCIATES'
APPLICATION FOR URBAN DEVELOPMENT ACTION GRANT FUNDS
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
the City Manager and City Clerk be, and each hereby
to execute and to attest to respectively, on behal
an agreement with Piedmont Associates, a California
for its services in connection with preparation and
of a computerized financial model of Alameda Marina Village Project,
assistance in analysis of existing financial arrangements of
the Project and assistance in securing equity and finance capital
for the Project.
ALAMEDA that
is, authorized
of the City,
corporation,
execution
BE IT FURTHER RESOLVED that said contract amount shall
not exceed the sum of $25,000.
BE IT FURTHER RESOLVED that the Letter of Agreement
in which Alameda Marina Village Associates agrees to underwrite
the costs of an application to HUD for an Urban Development
Action Grant, attached hereto as Exhibit "A ", is hereby accepted
and the City Manager is hereby authorized to execute, and
the City Clerk to attest to, said Letter of Agreement on behalf
of the City.
September 10S2
'Mr. John Erving.
lameda. Marina Village Associates
c/o Vintage Properties
3000 Sand Hill Road
Building 3 Suite 255
Menlo Park, CA. 425
Dear John
This is a proposed Letter of Agreement concerning an.. spplicatjon
to the federal Department of Housing and Urban Devbiopmecr (Rhjd
for an Urban Development Action Grant (UDAG) for the Alameda..
Marina Village Associates A U0 project in the City et Alhumber,
Should the AMSZA. project be selected to make. such. an. apl...Mkivr.).Wmikag
the City of Alameda would. expect. to 1 certain expenses for
tho preparation. of such. an application- Accordihgly, the Citv
of Alameda. proposes to be compensated by AMVA for assistance
i11 . the preparation. ot an application, on the following basis:
AMVA herpby agrees to comensae the Cv of Alameda for its
services and those of any outside entity. selected. to assist
the City, in an amount equivalent. to 2% of• the UDAG awar'd, should
the AMVA project be selected,. to make. 1 gran1 .. application and
the grant be successfully awdided- I1/ .. such event, ,AMVA will
pay the 2% amount to the City within 90 days of announcement
by HUD 1) the awarding of the grant-
••Should the. AMVA project 3 selected. to make a grant application.
and the grant not be awarded 1 MVAJwq11 , pay to the City an amount
equivalent to the Clty's Staff time and materials expenses and
those of any. nutsLde onfit.y assisting. the Cjtv in. thn pfbehrar...on
of the grant application, up to a. maRlmum of $25,000.
Please indicate acceptance. of the. above: terms and.. conditions
'by. signature of an authorized •indiHgidual beMpip. on this copy
and.. the two enclosed copies. Please retain. one copy- for vous'
•filen and return two copies to Lhia office.
CITY OF ALAMEDA, ALAMEDA MARINA VILLAGE
. ASSOCIATES
e
I, the undersigned, hereby certify that the foregoing Resolution was
duly and regularly introduced and adopted by the Council of the City of
Alameda in regular meeting assembled on the 7th of September, 1982,
by the following vote, to wit:
AYES: Councilmen Diament, Gorman, Stone and President Corica - 4.
NOES: None.
ABSENT: Councilman Sherratt - 1.
IN WITNESS WHEREOF, I have hereuntd set my hand and 3ffiXed the official
seal of said City this 8th day of September, 1982,