pages: RedevelopmentAgencyandFinanceandManagementCommittee/2009-06-09.pdf, 5
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RedevelopmentAgencyandFinanceandManagementCommittee | 2009-06-09 | *Special Concurrent Meeting of the Meeting Minutes June 9, 2009 Redevelopment Agency and Finance and Management Committee 8 Subject: One Work Place - Business Incentive Agreement From: Community and Economic Development Agency Recommendation: Adopt A Resolution Authorizing A Business Incentive Agreement With One Workplace Ferrari, LLC ("OWP"), Requiring OWP To Expand And Maintain Its Business In The City For A Minimum Period Of Five Years In Exchange For The City's Disbursement To OWP Of Business Incentive Payments In Amounts Equal To The Percentage Of Sales And Use Tax Received By The City From OWP's Retail Sales For The Following Periods: (1) For Year Two Of The Agreement (Fiscal Year 2011-2012), 50% Of The Tax; (2) For Year Three Of The Agreement (Fiscal Year 2012-2013), 45% Of The Tax; And (3) For Year Four Of The Agreement (Fiscal Year 2013-2014), 40% Of The Tax. 09-0407 Play Video A motion was made by Member Nadel, seconded by Member Kernighan, that this matter be *Approve the Recommendation of Staff, and Forward to the *Special Concurrent Meeting of the Oakland Redevelopment Agency/City Council, due back on June 16, 2009 as a Non-Consent item. The motion carried by the following vote: Votes: Councilmember No: Member De La Fuente Councilmember Aye: Member Kernighan, Member Nadel and Chair Quan The Committee directed staff to submit a supplemental report with their corrections. The Committee further directed that moving forward staff should provide more specifics on what they would like to see within this project. The following individual(s) spoke on this item: - Scott Peterson View Report.pdf View Supplemental Report.pdf 82089 CMS.pdf City of Oakland Page 5 Printed on 7/2/09 | 5 | RedevelopmentAgencyandFinanceandManagementCommittee/2009-06-09.pdf |