File #: 16-0239    Version: 1 Name: The Fox Theatre Loan Balloon Payment Due December 2016
Type: City Resolution Status: Failed
File created: 9/27/2016 In control: Concurrent Meeting of the Oakland Redevelopment Successor Agency and Finance and Management Committee
On agenda: Final action: 9/27/2016
Title: Subject: The Fox Theatre Loan Balloon Payment Due December 2016 From: Member Of The Public Recommendation: Receive An Informational Report From The City Auditor Regarding Staff's Rationale For Their Recommendation For A $1.4 Million Loan To Supplant A $4.6 Million Loan Balloon Payment Due December 2016 From The Fox Theatre. Staff Have Indicated That The $1.4 Million Would Subordinate The $4.6 Million Balloon Payment Now Totaling The Loan Amount $6 Million And Extending The Loan Payment For Ten Years. This Report Should Also Address Why The Proposed Council Resolution Has A $6.5 Million Dollar Amount/Is This Additional $500,000 A Loan Fee And To Whom. Why Is This Tenant Improvement Loan Of $1.4 Million ( This Was In Addition To A $1.2 Million Dollar Tenant Improvement That Rudy's Received Previously)Being Identified As Renovation For VIP Lounge For Rudy's Restaurant That Can't Fail.; As Soon As Possible During City Council
Sponsors: Member(s) of the Public

Title

Subject:                     The Fox Theatre Loan Balloon Payment Due December 2016

From:                                          Member Of The Public

Recommendation: Receive An Informational Report From The City Auditor Regarding Staff's Rationale For Their Recommendation For A $1.4 Million Loan To Supplant A $4.6 Million Loan Balloon Payment Due December 2016 From The Fox Theatre. Staff Have Indicated That The $1.4 Million Would Subordinate The $4.6 Million Balloon Payment Now Totaling The Loan Amount $6 Million And Extending The Loan Payment For Ten Years. This Report Should Also Address Why The Proposed Council Resolution Has A $6.5 Million Dollar Amount/Is This Additional $500,000 A Loan Fee And To Whom. Why Is This Tenant Improvement Loan Of $1.4 Million ( This Was In Addition To A $1.2 Million Dollar Tenant Improvement That Rudy's Received Previously)Being Identified As Renovation For VIP Lounge For Rudy's Restaurant That Can't Fail.; As Soon As Possible During City Council