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Title:
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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
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