City of Oakland - File #: 15-0810

• File #: 15-0810
• Version: 1
• Name: Oakland Golf LLC - Sublease And Operating Agreement
• Type: City Resolution
• Status: Passed
• File created: 3/23/2016
• In control: Meeting of the Oakland City Council
• On agenda: 4/19/2016
• Final action: 4/19/2016
• Title: Subject: Oakland Golf LLC - Sublease And Operating Agreement From: Oakland Parks & Recreation Department Recommendation: Adopt A Resolution Authorizing The City Administrator Or Her Designee To 1) Execute A Third Amendment To The Sublease And Operating Agreement With Oakland Golf, LLC For The Operation Of Metropolitan Golf Links Course To Restructure The Minimum Annual Guarantee Rent Amount To $400,000, Amend The Percentage Rent Of Gross Revenue From Golf Activities To 13.5%, And Modify The Sublease Term To Twenty-Two Years; And 2) Execute A Settlement Agreement With Oakland Golf, LLC To Resolve Payment Of Delinquent Rent
• Sponsors: Oakland Parks & Recreation Department

Date	Ver.	Action By	Action	Result
4/19/2016	1	* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council	Adopted	Pass
4/12/2016	1	*Finance & Management Committee	Approved the Recommendation of Staff, and Forward	Pass
3/24/2016	1	*Rules & Legislation Committee	Scheduled

Title

Subject:                     Oakland Golf LLC - Sublease And Operating Agreement

From:                                          Oakland Parks & Recreation Department

Recommendation:  Adopt A Resolution Authorizing The City Administrator Or Her Designee To 1) Execute A Third Amendment To The Sublease And Operating Agreement With Oakland Golf, LLC For The Operation Of Metropolitan Golf Links Course To Restructure The Minimum Annual Guarantee Rent Amount To $400,000, Amend The Percentage Rent Of Gross Revenue From Golf Activities To 13.5%, And Modify The Sublease Term To Twenty-Two Years; And 2) Execute A Settlement Agreement With Oakland Golf, LLC To Resolve Payment Of Delinquent Rent