pages: OaklandRedevelopmentSuccessorAgencyandtheCityCouncil/2020-12-01.pdf, 33
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OaklandRedevelopmentSuccessorAgencyandtheCityCouncil | 2020-12-01 | * Concurrent Meeting of the Meeting Minutes - FINAL December 1, 2020 Oakland Redevelopment Successor Agency and the City Council 8 Subject: Henry J. Kaiser Convention Center - LDDA Second Amendment From: Economic & Workforce Development Department Recommendation: Adopt An Ordinance That Authorizes The City Administrator Or Designee To Negotiate And Execute A Second Amendment To The Lease Disposition And Development Agreement (LDDA) Between The City Of Oakland (City) And Oakland Civic, LLC (Oakland Civic}, And Related Documents, For Renovation And Rehabilitation Of Cityowned Property Located At 10 Tenth Street, Commonly Known As The Henry J. Kaiser Convention Center (Property), That (A) (I) Modifies Certain Closing Requirements, Including Eliminating Non-Binding Letters Of Intent Pre-Lease Requirement And Surety Bonds And Increasing Required Guarantor Minimum Net Worth From 25 Percent To 50 Percent, And (II) Adds Notice And Cure Rights For Tax Credit Investors; And (B) Makes Amendments To The Form Of The Lease Attached As Exhibit C To The LDDA To: (1) Revise And Insert Definitions Of Sponsorship/Donation Agreements And Naming Rights, As Applicable, And Specify When Proceeds Of Such Agreements Will Be Considered As Gross Income For Calculation Of Rent Participation; (2) Document Rights Of Oakland Civic And Calvin Simmons Theatre (CST) To Enter Into An Event Use/Sponsorship Agreement With The Kaiser Foundation Health Plan, Inc. (Kaiser Foundation) For A Term Of Up To 20 Years, For A Maximum Payment Of $1.5 Million To Be Used For Renovation Of The Theatre Consistent With The LDDA And Lease, And Related Documents, And (B) Authorize The City Administrator Or Designee To Negotiate And Enter Into A Recognition Agreement With Kaiser Foundation For Such Event Use/Sponsorship Agreement, Subject To Certain Termination Rights And City Protections; (3) Document Oakland Civic's Consent To The City Entering Into A Naming Rights Agreement And Related Documents With Kaiser Foundation For The Property; And (4) Make Minor Revisions To (A) Add Notice And Cure Rights For Tax Credit Investors; And (B) Correspond With The Agreed-Upon Community Benefits Agreement Between Oakland Civic, CST And Black Arts Movement And Business District Community Development Corporation 20-0794 Attachments: View Report View Report - Attachment A View Legislation 13633 CMS Councilmember bas made a motion to include the following amendments; Section 13.6 of the LDDA be amended to include the following sentence at the end of the paragraph: Notwithstanding the foregoing, Developer shall notify the City Council, in writing, in the event the Developer is unable to reach a tentative agreement in the form of a draft Labor Peace Agreement or project labor agreement for the City's review and concurrence under this Section 13.6 or the City disapproves of any such draft agreement that may be presented by Developer. Request for the City Administrator to provide progress reports on construction of the project every six months, to be made publicly available on the City of Oakland City of Oakland Page 32 Printed on 12/16/2020 | 33 | OaklandRedevelopmentSuccessorAgencyandtheCityCouncil/2020-12-01.pdf |