City of Oakland - File #: 15-0409

• File #: 15-0409
• Version: 1
• Name: Coliseum Transit Village Owner Participation Agreement (OPA)
• Type: City Resolution
• Status: Passed
• File created: 12/2/2015
• In control: Meeting of the Oakland City Council
• On agenda: 1/5/2016
• Final action: 1/5/2016
• Title: Subject: Coliseum Transit Village Owner Participation Agreement (OPA) From: Economic & Workforce Development Department Recommendation: Adopt The Following Pieces Of Legislation: 1) A Resolution Authorizing The City Administrator Or Designee To Negotiate And Execute (1) An Owner Participation Agreement Among The City Of Oakland ("City"), The Oakland Economic Development Corporation ("OEDC") And Urban Core Partners, LLC ("Urban Core") Or The City And A Related Entity Of OEDC And Urban Core And (2) A Development Loan Agreement Among The City, OEDC And Urban Core Or The City And A Related Entity Of OEDC And Urban Core For A Loan Amount Not To Exceed Eleven Million Six Hundred Thousand Dollars ($11 ,600,000) Comprised Of: (A) $8,000,000 In Previously Approved Oakland City Council Resolution No. 84516 C.M.S. Redevelopment Project Area Excess Bond Spending Plan Uses: Coliseum Transit Village Phase I; (B) Re-Allocating $3,200,000 In 2006 Coliseum Taxable Bond Funds From Coliseum BART Sta...
• Sponsors: Economic & Workforce Development Department
• Related files: 15-0410

Date	Ver.	Action By	Action	Result
1/5/2016	1	* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council	Adopted	Pass
12/15/2015	1	*Special Community & Economic Development Committee	Approved the Recommendation of Staff, and Forward	Pass
12/3/2015	1	*Rules & Legislation Committee	Scheduled

Title

Subject:                      Coliseum Transit Village Owner Participation Agreement (OPA)

From:                                          Economic & Workforce Development Department

Recommendation:  Adopt The Following Pieces Of Legislation:

1) A Resolution Authorizing The City Administrator Or Designee To Negotiate And Execute (1) An Owner Participation Agreement Among The City Of Oakland ("City"), The Oakland Economic Development  Corporation ("OEDC") And Urban Core Partners, LLC ("Urban Core") Or The City And A Related Entity Of OEDC And Urban Core And (2) A Development Loan Agreement Among The City, OEDC And Urban Core Or The City And A Related Entity Of OEDC And Urban Core For A Loan Amount Not To Exceed Eleven Million Six Hundred Thousand Dollars ($11 ,600,000) Comprised Of: (A) $8,000,000 In Previously Approved Oakland City Council Resolution No. 84516 C.M.S. Redevelopment Project Area Excess Bond Spending Plan Uses: Coliseum Transit Village Phase I; (B) Re-Allocating $3,200,000 In 2006 Coliseum Taxable Bond Funds From Coliseum BART Station Transit Village Infrastructure Project To The Coliseum Transit Village Phase I Project; And (C) Amending The Coliseum Redevelopment Project Area Excess Bond Spending Plan To Re-Appropriate And Re-Allocate Excess Bond Proceeds In The Amount Of $400,000 Previously Listed And Committed In The Approved Bond Spending Plan To The Coliseum City Specific Plan All In Connection With The Coliseum Transit Village Phase I Project; And