The document announces a public meeting of the City Council of San Angelo, Texas to take place on June 7, 2011. The agenda includes consideration of various items such as approving meeting minutes and contracts, adopting ordinances, and holding public hearings on zoning changes and funding allocations. The meeting will be held at the McNease Convention Center and is accessible to persons with disabilities.
The document is a staff report recommending that the Oversight Board approve the Long-Range Property Management Plan (LRPMP) for the Successor Agency to the Former Redevelopment Agency of Alameda County. The LRPMP addresses 12 properties formerly owned by the redevelopment agency and intends for them to be transferred to Alameda County ownership according to their designated uses in approved redevelopment plans. Five properties are intended for public/government uses like a community center and fire station, while seven properties are intended to be sold for private development consistent with redevelopment plans.
Chasin' that neon rainbow
Livin' that honky tonk dream
Cause all I've ever wanted
Is to pick this guitar and sing
It's time to be somebody
Just wanna be heard and seen
I'm chasin' that neon rainbow
Livin' that honky tonk dream
~ Alan Jackson, "Chasin' That Neon Rainbow"
KIMO'S RULES
Never judge a day by the weather.
The best things in life aren't things.
Tell the truth - there's less to remember.
Speak softly and wear a loud shirt.
Goals are deceptive - the unaimed arrow never misses.
He who dies with the most toys - still dies.
Age is relative - when you're over the hill, you pick up speed.
There are 2 ways to be rich - make more or desire less.
Beauty is internal - looks mean nothing.
No Rain - No Rainbows.
The document is an agenda for the Bakersfield City Council meeting on September 2, 2015. The agenda includes roll call, presentations of proclamations, public statements, workshops, appointments, consent calendar items like minutes, payments, ordinances, resolutions, agreements, bids, and miscellaneous items. Under the consent calendar, there are items relating to job specifications, maintenance districts, environmental impact reports, and a successor agency settlement agreement. Public hearings are also scheduled.
The Sierra Club provides comments on the proposed San Carlos Transit Village project. While they like several aspects of the project, such as density, pedestrian accessibility, and sustainability features, they have some remaining concerns. They ask the city council to require a community benefits agreement, more affordable housing units on site, stronger traffic demand management, unbundled parking, and incentives for transit use such as free passes. They also request improvements to pedestrian infrastructure and consideration of reconfiguring a nearby street to better connect to the project.
The document outlines the process for proposing and constructing the Kapiti Coast Expressway as part of the Wellington Northern Corridor. It discusses how the expressway was listed as a Road of National Significance, and the steps involved in designating the land, obtaining resource consents, protecting heritage sites, acquiring land, and establishing it as a limited access road. These steps include issuing a Notice of Requirement, public consultation, recommendations by local authorities, potential appeals to the Environment Court, and compensation for acquired or impacted private land. The multi-year process will require navigating the Resource Management Act, Public Works Act, Historic Places Act, and Government Roading Powers Act.
This document is a motion filed by the City Defendants in the Supreme Court of Hawaii seeking reconsideration of the Court's August 24, 2012 opinion regarding an archaeological study for the Honolulu High-Capacity Transit Corridor Project. The City argues that the State Historic Preservation Division's (SHPD) approval of a phased archaeological study, with construction allowed to proceed in phases after study approval for each phase, was a reasonable interpretation of SHPD's rules and was entitled to deference. The City asserts that SHPD's phased approach provided greater protection for historic remains than requiring a full study before any construction could begin.
Selective Enforcement occurs when law enforcers derail the course of regulation or deviate from the established objective or principle of regulation and instead execute the law and enforce regulations by discretion.
- D. Chen, D. Jiang, S. Liang, F. Wang
China Journal of Accounting Research
The document announces a public meeting of the City Council of San Angelo, Texas to take place on June 7, 2011. The agenda includes consideration of various items such as approving meeting minutes and contracts, adopting ordinances, and holding public hearings on zoning changes and funding allocations. The meeting will be held at the McNease Convention Center and is accessible to persons with disabilities.
The document is a staff report recommending that the Oversight Board approve the Long-Range Property Management Plan (LRPMP) for the Successor Agency to the Former Redevelopment Agency of Alameda County. The LRPMP addresses 12 properties formerly owned by the redevelopment agency and intends for them to be transferred to Alameda County ownership according to their designated uses in approved redevelopment plans. Five properties are intended for public/government uses like a community center and fire station, while seven properties are intended to be sold for private development consistent with redevelopment plans.
Chasin' that neon rainbow
Livin' that honky tonk dream
Cause all I've ever wanted
Is to pick this guitar and sing
It's time to be somebody
Just wanna be heard and seen
I'm chasin' that neon rainbow
Livin' that honky tonk dream
~ Alan Jackson, "Chasin' That Neon Rainbow"
KIMO'S RULES
Never judge a day by the weather.
The best things in life aren't things.
Tell the truth - there's less to remember.
Speak softly and wear a loud shirt.
Goals are deceptive - the unaimed arrow never misses.
He who dies with the most toys - still dies.
Age is relative - when you're over the hill, you pick up speed.
There are 2 ways to be rich - make more or desire less.
Beauty is internal - looks mean nothing.
No Rain - No Rainbows.
The document is an agenda for the Bakersfield City Council meeting on September 2, 2015. The agenda includes roll call, presentations of proclamations, public statements, workshops, appointments, consent calendar items like minutes, payments, ordinances, resolutions, agreements, bids, and miscellaneous items. Under the consent calendar, there are items relating to job specifications, maintenance districts, environmental impact reports, and a successor agency settlement agreement. Public hearings are also scheduled.
The Sierra Club provides comments on the proposed San Carlos Transit Village project. While they like several aspects of the project, such as density, pedestrian accessibility, and sustainability features, they have some remaining concerns. They ask the city council to require a community benefits agreement, more affordable housing units on site, stronger traffic demand management, unbundled parking, and incentives for transit use such as free passes. They also request improvements to pedestrian infrastructure and consideration of reconfiguring a nearby street to better connect to the project.
The document outlines the process for proposing and constructing the Kapiti Coast Expressway as part of the Wellington Northern Corridor. It discusses how the expressway was listed as a Road of National Significance, and the steps involved in designating the land, obtaining resource consents, protecting heritage sites, acquiring land, and establishing it as a limited access road. These steps include issuing a Notice of Requirement, public consultation, recommendations by local authorities, potential appeals to the Environment Court, and compensation for acquired or impacted private land. The multi-year process will require navigating the Resource Management Act, Public Works Act, Historic Places Act, and Government Roading Powers Act.
This document is a motion filed by the City Defendants in the Supreme Court of Hawaii seeking reconsideration of the Court's August 24, 2012 opinion regarding an archaeological study for the Honolulu High-Capacity Transit Corridor Project. The City argues that the State Historic Preservation Division's (SHPD) approval of a phased archaeological study, with construction allowed to proceed in phases after study approval for each phase, was a reasonable interpretation of SHPD's rules and was entitled to deference. The City asserts that SHPD's phased approach provided greater protection for historic remains than requiring a full study before any construction could begin.
Selective Enforcement occurs when law enforcers derail the course of regulation or deviate from the established objective or principle of regulation and instead execute the law and enforce regulations by discretion.
- D. Chen, D. Jiang, S. Liang, F. Wang
China Journal of Accounting Research
The document discusses the Bank's review and oversight of procurement processes for IBRD loans and IDA credits. It outlines that (1) the Bank reviews procurement documents, evaluations, and contracts to ensure procedures are followed, (2) if procurement is not conducted according to the loan agreement, the Bank can declare misprocurement and cancel associated funding, and (3) borrowers must prepare an annual procurement plan specifying contracts, procurement methods, and review procedures for Bank approval.
Industrial sickness is defined in India as "an industrial company (being a company registered for not less than five years) which has, at the end of any financial year, accumulated losses equal to, or exceeding, its entire net worth and has also suffered cash losses in such financial year and the financial year immediately preceding such financial year".
The document provides guidelines for procurement under IBRD Loans and IDA Credits. It outlines that the purpose is to inform project implementers of the policies that govern procurement of goods, works and services financed by World Bank loans. It describes that open competition is generally the most appropriate procurement method, with international competitive bidding required in most cases. It also establishes eligibility requirements for bidder participation and exceptions to non-discrimination policies.
This document discusses several key aspects of construction project management including project funding, scheduling, procurement, cost control, and cash flow analysis. It describes the basic resources needed for construction including money, materials, manpower, and machines. It then focuses on construction financing, explaining the types of loans, lenders, and requirements. Procurement and cost control methods like productivity tracking and cash flow analysis are also outlined.
This document discusses the key legal aspects of project finance, including the project company, credit agreements, security documents, and project agreements. It then covers public-private partnerships (PPPs), describing the types of PPPs and their benefits and risks. PPPs involve sharing risks between public and private sectors for infrastructure projects. The role of the government and PPP procurement processes are also examined.
Slides from Abu Dhabi Prroject Financing Conference (2002) on "Negotiating the Terms & Conditions of the Project Debt and Achieving Financial Close"
This document discusses the concept of entrepreneurship and characteristics of entrepreneurs. It defines entrepreneurship as taking up new initiatives and organizing businesses. Key points made include:
- Entrepreneurs are innovative, willing to take risks and work hard. They are highly optimistic and independent.
- Common characteristics of entrepreneurs are a desire for achievement, adaptability, foresight and being a good organizer.
- Entrepreneurship in agriculture (agripreneurship) provides opportunities in areas like organic farming, food processing, floriculture and production of agro-inputs.
- Entrepreneurs differ from managers and leaders in that they create new opportunities and innovations, rather than maintaining or developing existing
In this presentation, we will discuss about the importance of collecting accurate information for market research, defining various types of information and understanding the various sources. We will also talk about the importance of research in international marketing and role of business ethics in global marketing research.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Prepared by the students of corporate finance at the MBA program of IE Business School, this presentation provides an introduction to project finance and analyzes two case studies involving project finance.
This document provides an overview of project financing, including what it is, the key parties and stages involved, and its advantages and disadvantages. Project financing refers to financing long-term infrastructure or industrial projects based on the future cash flows generated by the project rather than the balance sheets of its sponsors. The stages discussed include project identification, risk assessment, feasibility analysis, equity and debt arrangement, documentation, disbursement, monitoring, and closure. Advantages include off-balance sheet treatment for sponsors, while disadvantages include higher costs and complexity.
The document discusses market failures and government interventions to address them. It provides examples of market failures such as pollution, traffic congestion, and underprovision of public goods. It also lists government policy tools like taxes, subsidies, and regulations that can be used to correct market failures and achieve more efficient resource allocation.
This document discusses different types of market failures including externalities, merit and demerit goods, and monopoly power. It defines positive and negative externalities as costs or benefits affecting third parties in production or consumption. Externalities can be addressed through taxes, subsidies, legislation, tradable permits or extending property rights. Public goods are non-excludable and non-rivalrous but underprovided due to free riders. Merit goods are underconsumed while demerit goods are overconsumed and these issues can be addressed through subsidies, advertising or regulation. Monopoly power leads to inefficiencies that can be corrected through legislation, regulation or government ownership.
The Project Management Process - Week 1Craig Brown
This document provides an overview of project management concepts. It discusses that projects have a definite beginning and end, and defines a project. It also outlines the five process groups that projects typically go through. Additionally, it explains the triple constraint of time, cost and scope that projects aim to balance, and introduces the nine knowledge areas of the project management framework. Finally, it emphasizes the importance of an integrated approach to managing all aspects of a project.
Demand forecasting involves determining what products are needed, where, when, and in what quantities. It is a customer-focused activity that supports logistics planning like capacity, inventory, and business planning. Demand forecasting techniques can be qualitative like surveys or quantitative like time series analysis and regression models. The choice of technique depends on factors like the time period, data availability, and purpose of the forecast. Effective demand forecasting provides benefits like reduced uncertainties and improved operations.
This document discusses various methods for classifying and forecasting demand. It categorizes demand based on whether goods are for consumers or producers, whether they are perishable or durable, and whether demand is derived, autonomous, for a firm or industry, or for total markets versus market segments. It then discusses demand forecasting and different quantitative and qualitative techniques for forecasting, including expert opinion methods, complete/sample consumer enumeration surveys, sales force opinion surveys, and consumer end use surveys. Each technique is described along with its advantages and disadvantages.
This document is the agenda for a City Council meeting in San Angelo, Texas on September 17, 2013. The agenda includes consideration of various items such as approving meeting minutes, awarding bids, adopting ordinances, discussing projects, and amending the city's comprehensive plan. The meeting will be held at the McNease Convention Center and is open to the public, with opportunities for public comment on agenda items.
The document announces a public meeting of the City Council of San Angelo, Texas to be held on February 5, 2013 at the McNease Convention Center. The agenda includes opening proceedings, a consent agenda with various items for consideration and approval, an executive/closed session to discuss legal and real estate matters, and a regular agenda including public hearings on proposed annexations and presentations on river improvement projects and employee wellness programs. Accommodations are available for persons with disabilities to attend the meeting.
This document is a city council agenda for a meeting on January 21, 2014. The agenda includes items for consideration such as approving meeting minutes, awarding bids, authorizing property sales, adopting resolutions, and public hearings. There will also be an executive session to discuss legal and economic development matters. The regular agenda then lists several public hearings and considerations, including updates on employee wellness programs and seal coat projects, a discussion of annexing properties, approving a carnival permit, and adopting an updated neighborhood revitalization plan.
This document provides a preliminary design report for a proposed water system to service the Upper Fintry, Shalal Road, and Valley of the Sun neighbourhoods. It identifies groundwater from wells located on Lot 19 in the Fintry Delta as the preferred water source. The system will have two pressure zones, with the Valley of the Sun area serviced from a 608m reservoir and Upper Fintry serviced from a 555m pressure reducing valve. The design includes a well pump station, 405m booster station, 608m reservoir, and supply and distribution piping. The preliminary cost estimate and potential for expanding the service area are also discussed.
Item # 7 PACE Program - Resolution of Intentahcitycouncil
The document discusses a city council agenda item on establishing a Property Assessed Clean Energy (PACE) program in the City of Alamo Heights. It provides background on PACE programs and proposes that the city council pass a Resolution of Intent to establish a PACE program. It also proposes holding a public hearing to consider authorizing an agreement with the Alamo Area Council of Governments to administer the PACE program.
Vancouver, B.C. –December 8, 2014 – Highbank Resources Ltd. (the “Company”), TSX Venture: HBK.
Victor N. Bryant, CEO/President comments, “I have received communication from North Coast Concrete that they are shutting down their concrete/cement plant early for the holiday break and have postponed receipt of the first barge loads of aggregate which Highbank was preparing to ship from Swamp Point North (“SPN”) to their plant in the Port of Prince Rupert before mid month. North Coast Concrete expect to resume operations on/or before February 2015.”
The document discusses the Bank's review and oversight of procurement processes for IBRD loans and IDA credits. It outlines that (1) the Bank reviews procurement documents, evaluations, and contracts to ensure procedures are followed, (2) if procurement is not conducted according to the loan agreement, the Bank can declare misprocurement and cancel associated funding, and (3) borrowers must prepare an annual procurement plan specifying contracts, procurement methods, and review procedures for Bank approval.
Industrial sickness is defined in India as "an industrial company (being a company registered for not less than five years) which has, at the end of any financial year, accumulated losses equal to, or exceeding, its entire net worth and has also suffered cash losses in such financial year and the financial year immediately preceding such financial year".
The document provides guidelines for procurement under IBRD Loans and IDA Credits. It outlines that the purpose is to inform project implementers of the policies that govern procurement of goods, works and services financed by World Bank loans. It describes that open competition is generally the most appropriate procurement method, with international competitive bidding required in most cases. It also establishes eligibility requirements for bidder participation and exceptions to non-discrimination policies.
This document discusses several key aspects of construction project management including project funding, scheduling, procurement, cost control, and cash flow analysis. It describes the basic resources needed for construction including money, materials, manpower, and machines. It then focuses on construction financing, explaining the types of loans, lenders, and requirements. Procurement and cost control methods like productivity tracking and cash flow analysis are also outlined.
This document discusses the key legal aspects of project finance, including the project company, credit agreements, security documents, and project agreements. It then covers public-private partnerships (PPPs), describing the types of PPPs and their benefits and risks. PPPs involve sharing risks between public and private sectors for infrastructure projects. The role of the government and PPP procurement processes are also examined.
Slides from Abu Dhabi Prroject Financing Conference (2002) on "Negotiating the Terms & Conditions of the Project Debt and Achieving Financial Close"
This document discusses the concept of entrepreneurship and characteristics of entrepreneurs. It defines entrepreneurship as taking up new initiatives and organizing businesses. Key points made include:
- Entrepreneurs are innovative, willing to take risks and work hard. They are highly optimistic and independent.
- Common characteristics of entrepreneurs are a desire for achievement, adaptability, foresight and being a good organizer.
- Entrepreneurship in agriculture (agripreneurship) provides opportunities in areas like organic farming, food processing, floriculture and production of agro-inputs.
- Entrepreneurs differ from managers and leaders in that they create new opportunities and innovations, rather than maintaining or developing existing
In this presentation, we will discuss about the importance of collecting accurate information for market research, defining various types of information and understanding the various sources. We will also talk about the importance of research in international marketing and role of business ethics in global marketing research.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
Prepared by the students of corporate finance at the MBA program of IE Business School, this presentation provides an introduction to project finance and analyzes two case studies involving project finance.
This document provides an overview of project financing, including what it is, the key parties and stages involved, and its advantages and disadvantages. Project financing refers to financing long-term infrastructure or industrial projects based on the future cash flows generated by the project rather than the balance sheets of its sponsors. The stages discussed include project identification, risk assessment, feasibility analysis, equity and debt arrangement, documentation, disbursement, monitoring, and closure. Advantages include off-balance sheet treatment for sponsors, while disadvantages include higher costs and complexity.
The document discusses market failures and government interventions to address them. It provides examples of market failures such as pollution, traffic congestion, and underprovision of public goods. It also lists government policy tools like taxes, subsidies, and regulations that can be used to correct market failures and achieve more efficient resource allocation.
This document discusses different types of market failures including externalities, merit and demerit goods, and monopoly power. It defines positive and negative externalities as costs or benefits affecting third parties in production or consumption. Externalities can be addressed through taxes, subsidies, legislation, tradable permits or extending property rights. Public goods are non-excludable and non-rivalrous but underprovided due to free riders. Merit goods are underconsumed while demerit goods are overconsumed and these issues can be addressed through subsidies, advertising or regulation. Monopoly power leads to inefficiencies that can be corrected through legislation, regulation or government ownership.
The Project Management Process - Week 1Craig Brown
This document provides an overview of project management concepts. It discusses that projects have a definite beginning and end, and defines a project. It also outlines the five process groups that projects typically go through. Additionally, it explains the triple constraint of time, cost and scope that projects aim to balance, and introduces the nine knowledge areas of the project management framework. Finally, it emphasizes the importance of an integrated approach to managing all aspects of a project.
Demand forecasting involves determining what products are needed, where, when, and in what quantities. It is a customer-focused activity that supports logistics planning like capacity, inventory, and business planning. Demand forecasting techniques can be qualitative like surveys or quantitative like time series analysis and regression models. The choice of technique depends on factors like the time period, data availability, and purpose of the forecast. Effective demand forecasting provides benefits like reduced uncertainties and improved operations.
This document discusses various methods for classifying and forecasting demand. It categorizes demand based on whether goods are for consumers or producers, whether they are perishable or durable, and whether demand is derived, autonomous, for a firm or industry, or for total markets versus market segments. It then discusses demand forecasting and different quantitative and qualitative techniques for forecasting, including expert opinion methods, complete/sample consumer enumeration surveys, sales force opinion surveys, and consumer end use surveys. Each technique is described along with its advantages and disadvantages.
This document is the agenda for a City Council meeting in San Angelo, Texas on September 17, 2013. The agenda includes consideration of various items such as approving meeting minutes, awarding bids, adopting ordinances, discussing projects, and amending the city's comprehensive plan. The meeting will be held at the McNease Convention Center and is open to the public, with opportunities for public comment on agenda items.
The document announces a public meeting of the City Council of San Angelo, Texas to be held on February 5, 2013 at the McNease Convention Center. The agenda includes opening proceedings, a consent agenda with various items for consideration and approval, an executive/closed session to discuss legal and real estate matters, and a regular agenda including public hearings on proposed annexations and presentations on river improvement projects and employee wellness programs. Accommodations are available for persons with disabilities to attend the meeting.
This document is a city council agenda for a meeting on January 21, 2014. The agenda includes items for consideration such as approving meeting minutes, awarding bids, authorizing property sales, adopting resolutions, and public hearings. There will also be an executive session to discuss legal and economic development matters. The regular agenda then lists several public hearings and considerations, including updates on employee wellness programs and seal coat projects, a discussion of annexing properties, approving a carnival permit, and adopting an updated neighborhood revitalization plan.
This document provides a preliminary design report for a proposed water system to service the Upper Fintry, Shalal Road, and Valley of the Sun neighbourhoods. It identifies groundwater from wells located on Lot 19 in the Fintry Delta as the preferred water source. The system will have two pressure zones, with the Valley of the Sun area serviced from a 608m reservoir and Upper Fintry serviced from a 555m pressure reducing valve. The design includes a well pump station, 405m booster station, 608m reservoir, and supply and distribution piping. The preliminary cost estimate and potential for expanding the service area are also discussed.
Item # 7 PACE Program - Resolution of Intentahcitycouncil
The document discusses a city council agenda item on establishing a Property Assessed Clean Energy (PACE) program in the City of Alamo Heights. It provides background on PACE programs and proposes that the city council pass a Resolution of Intent to establish a PACE program. It also proposes holding a public hearing to consider authorizing an agreement with the Alamo Area Council of Governments to administer the PACE program.
Vancouver, B.C. –December 8, 2014 – Highbank Resources Ltd. (the “Company”), TSX Venture: HBK.
Victor N. Bryant, CEO/President comments, “I have received communication from North Coast Concrete that they are shutting down their concrete/cement plant early for the holiday break and have postponed receipt of the first barge loads of aggregate which Highbank was preparing to ship from Swamp Point North (“SPN”) to their plant in the Port of Prince Rupert before mid month. North Coast Concrete expect to resume operations on/or before February 2015.”
This document outlines a plan for Warren County Fiscal Court and the City of Plum Springs to establish a joint stormwater sewer agency and impose stormwater fees to fund compliance with EPA stormwater mandates. The 5-step plan includes: 1) assessing funding options; 2) developing a political strategy; 3) implementing the plan through signed agreements and authorizations; 4) initial fee monitoring and penalty enforcement; and 5) ongoing plan maintenance through fee adjustments, permit renewals, and updates for officials. Questions regarding the joint agency can be directed to its manager.
Item # 4&5 PACE Program Public Hearing & Resolution to Establishahcitycouncil
The City of Alamo Heights is considering establishing a Property Assessed Clean Energy (PACE) program. PACE programs allow commercial property owners to obtain financing for energy and water efficiency upgrades through assessments on their property. The city council adopted a Resolution of Intent and must now adopt a Resolution to Establish the program. If approved, the Alamo Area Council of Governments would administer the program. The PACE program is designed to promote sustainability and economic development without cost to the city.
Highbank Resources Ltd. has arranged a $100,000 demand loan to fund care and maintenance of its Swamp Point North aggregate project as well as audit fees and sustaining costs. In exchange for the loan, the company will issue 400,000 bonus shares. Updates from the Prince Rupert region include construction of work camps for the AltaGas propane terminal project and a $6.9 million waterworks contract. Petronas may consider using Shell's abandoned Ridley Island site for its proposed LNG project. Additionally, the Gitga'at Nation and Kitselas First Nation have signed LNG benefits agreements.
Item # 6 PACE Program Interlocal Agmt w/AACOGahcitycouncil
The document is a request for the City Council of Alamo Heights to approve an interlocal agreement authorizing the Alamo Area Council of Governments (AACOG) to administer the City's Property Assessed Clean Energy (PACE) program. The PACE program allows commercial property owners to finance energy efficiency upgrades through assessments on their property taxes. If approved, the agreement would delegate administration of the PACE program to AACOG, including marketing, application processing, and oversight to ensure projects meet requirements. The City would not provide any compensation to AACOG, which would cover costs through fees paid by program participants.
The document is a notice for a public meeting of the City Council of San Angelo, Texas to take place on March 22, 2011. The agenda includes consideration of various items relating to city business and operations, such as awarding bids, adopting resolutions, public hearings, budget amendments, and other regulatory matters. Executive sessions are also scheduled to discuss economic development negotiations, real estate matters, and personnel evaluations.
San Francisco Board of Supervisors Caltrain Governance ResolutionAdina Levin
San Francisco Board of Supervisors passes a resolution calling for a review of Caltrain Governance in the context of the Business Plan and Funding Measure
Executive Summary 2015 - Deep Sea Port by Broad Spectrum Ind Serv Ltd (Autos...Micheal Le Havre
Broad Spectrum Industrial Services Ltd proposes to construct three major projects in Calabar, Cross River State, Nigeria: 1) A 260km super highway with six lanes and lighting, 2) A 1.2km deep sea port, and 3) Mechanized farming and machinery development. The total projected cost is US$2.427 billion. The company seeks funding from global investors. The projects aim to create jobs, alleviate poverty, boost the economy, and generate revenue for Cross River State. An environmental and social impact assessment will ensure the projects comply with relevant regulations.
Consent 301 Project Agreement with Natural Resources Conservation ServiceVictoriaColangelo
In July 2018 the Community Development Department requested that the City Commission authorize
entering into a Project Agreement with the Natural Resources Conservation Service
MRCS) for federal and local match funding of four critical Emergency Watershed Protection projects as a result of damages from Hurricane Irma, in the total amount of $1,569,491.67.
We don't believe anything was ever done.
The City neglected the residents by not adequately preparing for future storms.
The Executive Mayor of Cape Town, Dan Plato, has approved a R3.9 billion expansion of the V&A Waterfront's Canal District. The mixed-use development will create at least 1,100 jobs during construction and boost Cape Town's ongoing economic recovery. It will expand the Waterfront on both sides of Dock Road and around the existing Battery Park. The 10.5 hectare development will improve connectivity between the Waterfront and city center. Some buildings may reach 60 meters to increase floor space within height limits. The development was approved after consideration of relevant plans and guidelines to support long-term economic growth and job creation in Cape Town.
The document discusses redevelopment in California and the Palm Springs Community Redevelopment Agency. It provides details on projects funded by redevelopment, including community facilities, hotels, retail, housing, and infrastructure. It summarizes the impact of the Supreme Court ruling eliminating redevelopment agencies and the transition to successor agencies to wind down remaining projects and obligations.
Banktrack, International Rivers, FIVAS m. fl. 2009. Rapporten viser at problemene med Theun-Hinboun-prosjektet i Laos (driftet og delvis eid av Statkraft) fortsetter å hope seg opp. Rapporten viser at prosjektet har brutt både laotisk lovgivning og bankenes egne miljøstandard. 4.000 urfolk blir tvangsflyttet som følge av prosjektet.
The document outlines a proposed $6.3 million construction project to build a 51-room hotel in Ham Lake, Minnesota. It will require $2.52 million in cash equity (40% of costs) and $3.78 million in debt financing. An additional $150,000 is needed for pre-construction costs. The project is expected to generate a net operating income within 5 years based on conservative projections. It will also subdivide the 3.4 acre site and sell 1.3 acres for a restaurant to provide additional funds.
San Jose Water Company filed an application with the California Public Utilities Commission to adjust its cost of capital and rates for the period from 2018 to 2020. SJWC is requesting authorization to adjust its cost of capital based on its forecasted costs of equity and long-term debt and capital structure. It is also requesting to maintain its existing Water Cost of Capital Mechanism to allow for mid-cycle adjustments if bond index rates change substantially. The application includes testimony supporting SJWC's proposed cost of equity, debt, and capital structure. It proposes a schedule for the proceeding, which would allow new rates to take effect on January 1, 2018 if approved.
Similar to Livermore ca-paragon-outlet-mall-project-loan-agreement (20)
Dublin Crossing Specific Plan Draft June 2013arounddublin
Irvine-based developer SunCal has recently shared a more detailed vision of the future master planned community at Dublin Crossing in Dublin, CA. Located on the 187-acre parcel across from the East Dublin BART Station transit village, the Dublin Crossing project is expected to bring up to nearly 2,000 new low-density to medium-density homes to Dublin.
As part of the effort to secure $10M in cash, a 12-acre school site to accommodate up to 900 students, a 30-acre community park, a 5-acre neighborhood park, and 2.6 acres of open space, Dublin City Council agreed to charge future Dublin Crossing homeowners a special property tax in the amount of $2,200 up to $3,700 per year. The Mello-Roos will reportedly cover about 40% of the project’s infrastructure costs. The Council’s decision was a big win for Dublin Crossing developer SunCal, as SunCal can now transfer the risks associated with building the project over to the City of Dublin and future residents.
While the nearly 2,000 beautiful new homes at Dublin Crossing will be perfect for families looking to put down their roots, some may be concerned by the community’s proximity to Santa Rita Jail. Dublin’s Santa Rita Jail is the third largest in California and the fifth largest in the United States. Classified as a mega jail, this 113-acre detention facility houses over 4,000 inmates. More than 400 detainees move through Dublin’s Santa Rita Jail a day. On a busy days, that number can go as high as 600. As many as 60,000 detainees pass through Santa Rita Jail each year, creating an ever-changing population.
Prospective homebuyers are also advised to learn more about the 2011 cleanup of contaminated soil at Camp Parks, where the Dublin Crossing master planned community now sits. Antimony, arsenic, cobalt, copper, dioxins/furans, lead, mercury, and zinc are among the toxins that were left by an incinerator used to burn refuse during the 1940s and 1950s. Army research has indicated that the arsenic could also be due to “naturally occurring soil concentrations.” A 2007 study also found that the concentration of lead and dioxins/furans in the groundwater beneath the impacted area was above the acceptable level set by the State of California. The cost of the cleanup was $1.5M.
Dublin, CA March 9th Planning Commission Meeting Minutesarounddublin
The Planning Commission held its regular meeting on March 9, 2010. After calling the meeting to order and taking roll, the Commission heard the item for the proposed School of Imagination planned development rezone and development plan. Staff presented the project as outlined in the staff report. Commissioners asked clarifying questions about staffing, accessibility requirements, and the proposed use of a neighboring parcel. The applicant spoke in favor of the project. Commissioners expressed general support for the project but had some comments about design details. The meeting then moved on to other items.
Dublin San Ramon Services District to Limit Free Speecharounddublin
The document is the agenda for a Finance Committee meeting of the Dublin San Ramon Services District. The agenda includes 6 discussion items and 2 informational items. Key discussion items include potential cost overruns on an electrical improvements project, a proposed policy for submitting and tabulating written protests of utility rate changes, and accepting financial statements with an independent auditor's report. The meeting is scheduled for December 12, 2011 at 5:30pm at the District's board conference room.
Urban Land Institute's One Dublin Downtown Development Planarounddublin
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1. ALAMEDA COUNTY COMMUNITY DEVELOPMENT AGENCY
SURPLUS PROPERTY AUTHORITY
Chris Bazar
Agency Director AGENDA .:1l.o (; July 12,2011
Revision 2
June 28, 2011
Stuart Cook
DIrector
224
Surplus Property Authority Commission
West Winton Ave County Administration Building
Room 110 Oakland, California 94612
Hayward
California Dear Commissioners:
94544-1215
phone SUBJECT: AUTHORIZATION OF LOAN AGREEMENT WITH
510.670.5333
fax
CITY OF LIVERMORE FOR INFRASTRUCTURE
510.670.6374 IMPROVEMENTS NEEDED FOR DEVELOPMENT
OF COUNTY-OWNED STAPLES RANCH
www.
acgov.org/cda PROPERTY
RECOMMENDATION:
That your Board, acting as the Commission ofthe Surplus Property Authority
(SPA), authorize the Surplus Property Authority to enter into a Loan Agreement
with the City of Livermore that provides the City with $13.4 million in "gap
financing" to permit the immediate commencement of roadway and flood control
infrastructure in Livermore necessary for the development of Staples Ranch.
SUMMARYIDISCUSSION:
The successful development of Staples Ranch in Pleasanton is intricately linked
with the development of the retail-oriented El Charro Specific Plan (ECSP) area in
Livermore, just east of E1 Charro Road. The completion of El Charro Road and
related flood control improvements in Livermore need to be guaranteed (either by
bonding or actual commencement of construction) prior to Pleasanton issuing a
Final Subdivision Map for Staples Ranch, which is a requirement for the SPA to
close on the $30 million first-phase sale to CLC (Continuing Life Communities)
for a senior community on the Staples property (followed by an additional $15
million in subsequent phases), This is one of the last remaining issues needed for
Map approval, which is tentatively scheduled for the July 19 Pleasanton City
Council agenda.
Livermore wants to proceed with the ECSP infrastructure improvements, but has
not been able to fully finance the estimated $39 million in costs prior to
completion of the fully-approved 540,OOO-square foot Paragon Outlet Mall project,
although a Community Facilities District (CFD) has been established within the
ECSP area. Because of the SPA's need for a specific commitment relating to the
2. Surplus Property Authority
June 28, 2011
Page 2
infrastructure for Staples Ranch development, SPA and Livermore staff have negotiated a
proposed loan agreement with the SPA providing a $13.4 million "gap financing" loan to
Livermore, contingent on the City beginning construction this summer, with completion
within 18 months. The remainder of the funds will come from Livermore-issued
Certificates of Participation ($10 million); Zone 7 ($7.5 million); Livermore traffic
impact funds, General Fund-related fees and grants ($5.1 million) and a $3 million
payment from SPA required under a 2007 Cost-Sharing Agreement between the SPA,
Livermore and Pleasanton.
Under the terms of the proposed Loan Agreement, the SPA will make a loan to
Livermore of $13.4 million, contingent on Livermore receiving all necessary permits,
obtaining all other necessary funding, awarding a construction contract for the ECSP
infrastructure improvements, and delivering a Promissory Note to repay the loan. The
loan would bear an interest rate of2% per annum (adjusting to LIB OR plus 2%
beginning at the commencement of Year Three of the loan) due and payable upon
repayment of the principal. The loan must be consummated by September 15, 2011 (but
is anticipated to occur in July) and Livermore would be obligated to begin construction of
the infrastructure within 30 days of acceptance and complete the infrastructure within 18
months of the loan payment.
While the loan has a repayment term of 10 years ("maturity date"), the loan must be fully
repaid prior to Livermore issuing the first certificate of occupancy for the Paragon
project. The Paragon development is anticipated to begin construction this summer, and
to open by the spring of2013. In the unlikely event the Paragon development fails to go
forward, any future development on this prime development site would similarly be
required to payoff the full loan amount prior to opening, and any development within the
greater ECSP area would similarly be required to payoff a proportionate share of the
loan amount. The sources of Livermore's loan repayment are: developer contributions;
collateral received by developer(s); proceeds from refunding bonds issued on behalf of
the CFD, and CFD special tax revenue. Livermore is not obligated to repay the loan from
any other revenue source, including its General Fund.
In the highly unlikely event no development occurs within the ECSP area before the 10
year loan maturity date, Livermore must use good faith efforts to issue refunding bonds
to repay the loan in full. If the market cannot support the sale of bonds at that time, the
City is thereafter obligated to levy special taxes with the tax proceeds shared between the
SPA and Livermore, based on the $13.4 million loan amount relative to the City'S $10
million Certificate of Participation dedicated to these improvements, until the SPA loan is
paid off in full, subject to an interest rate of LIBOR plus 2%.
Livermore has now received all permits needed to proceed and, on June 27, awarded a
construction contract for the Phase I infrastructure improvements, contingent on approval
of the loan agreement. Paragon has formally reiterated its commitment to go forward
3. Surplus Property Authority
June 28, 2011
Page 3 I
with the outlet mall project once the infrastructure project commences construction (see
attached letter).
In addition to the SPA's interests regarding Staples Ranch, Livermore's commitment to
go forward (and complete) the ECSP infrastructure improvements will also result in the
long-sought goal of completing a major roadway arterial between Pleasanton and
Livermore parallel to 1-580, once Staples Ranch is developed and Stoneridge Drive is
opened.
FINANCING:
There will be no Net County Cost as a result of this action. The proceeds from SPA's
recent close on the AvalonBay development in Dublin (net of$13.4 million) is currently
available to be used to fund the proposed loan, should it be approved by your Board.
Sincerely,
Q::~
Community Development Agency
Attachment
cc: Susan Muranishi, County Administrator's Office
Patrick O'Connell, Auditor-Controller
Richard Karlsson, Interim County Counsel
Stuart Cook, SPA Director
U.B. Singh, CDA Finance Director
4. ~/R/GOf
OUTLET PARTNERS LLC
June 28, 2011
Chris Bazar, Agency Director
Community Development Agency
224 W. Winton Avenue, Room 110Hayward, CA 94554
Re: Alameda County Surplus Property Authority Gap Loan (the IIACS Loan")
Dear Mr. Bazar:
As you know, Paragon Outlets Livermore Valley LLC ("Paragon") is on the cusp offinallzing its
construction loan and commencing construction of its long-awaited 545,000 square foot outlet center
project (the "Project") at the EI Charro interchange in Livermore. With the issuance of the Finding of No
Significant Impact ("FONSI") by the FAA, the Proje'::t is fully entitled. All governmental permits and
approvals needed to begin construction have been raceived, including those needed for the
construction and completion of the extensive offsite improvements benefitting not only the Project, but
also the planned projects across EI Charro Road in Pleasanton. Furthermore, the on-site plans for both
the infrastructure and the buildings have been completed, and the building permits are ready for
issuance. Paragon intends to commence Project constru.::tion on or about July 15, 2011.
Closing the construction loan and meeting this schedule squarely depends on the approval of the ACS
loan at the July 12,2011 County meeting. Timing is critical. The availability of the ACS Loan proceeds is
the last hurdle to finalizing the Project capital structure and to starting the Project.
As you know, we need to hit the mid-Jul{ start time. The ACS Loan is pivotal to the Project and its timely
commencement. Thanks to you and Alameda County Surplus Property Authority for all of your efforts.
Very truly yours,
/)J(.
R. Kelvin Antill
Paragon Outlet Partners
217 east redwood street I 21st floor I baltimorel md 121202 I 410.856.1818
5. LOAN AGREEMENT
BETWEEN
SURPLUS PROPERTY AUTHORITY
OF ALAMEDA COUNTY,
a California Public Corporation
("SPA")
and
CITY OF LIVERMORE,
a California Municipal Corporation
("Livermore")
JUNE 28, 2011
6. TABLE OF CONTENTS
Page
1. Loan Tenns .................................................................................................................... 2
1.1 Amount of Loan ................................................................................................. 2
1.2 Payment.............................................................................................................. 2
1.3 Date of Loan....................................................................................................... 2
1.4 Conditions to Loan ............................................................................................. 3
2. Obligations of Livermore ............................................................................................... 3
3. Modification of SPA's Obligation Under CSA .............................................................. .4
4. Miscellaneous Provisions ............................................................................................... 4
4.1 Entire Agreement. ............................................................................................... 4
4.2 Amendment ........................................................................................................ 4
4.3 Waiver................................................................................................................ 4
4.4 Counterparts; Facsimile/Electronic Signatures ................................................... .4
4.5 Governing Law ................................................................................................... 5
4.6 Jurisdiction and Venue ........................................................................................ 5
4.7 Severability ........................................................................................................ 5
4.8 Notices ............................................................................................................... 5
4.9 Successors and Assigns....................................................................................... 6
4.10 No Third Party Beneficiary ................................................................................. 6
EXHIBITS:
A Site Plan of Property Within El Charro Specific Plan.
B - Site Plan and Description ofCFD No. 2009-1 and Improvement Areas.
C Description of Phase 1 ECSP Infrastructure Improvements.
D - Promissory Note
E - Improvement Area Loan Portion.
F - Sources and Uses for Phase 1 ECSP Infrastructure Improvements
000299.00461746465.2 -1
7. LOAN AGREEMENT
This Loan Agreement ("Agreement") is made and entered into as of June 28, 2011
("Effective Date") by and between SURPLUS PROPERTY AUTHORITY OF ALAMEDA
COUNTY, a California public corporation ("SPA") and the City of Livermore, a California
municipal corporation ("Livermore").
RECITALS
A. SPA presently owns and is the master developer of approximately 124 acres of
unimproved real property located just west ofEI Charro Road in Pleasanton, California, which
the City of Pleasanton has approved for a mix ofplanned commercial, residential, and park uses
("Staples Ranch").
B. Livermore has approved the development of approximately 250 acres located
within the EI Charro Road Specific Plan ("ECSP"), just east ofEI Charro Road, in Livermore,
California, including planned retail deVelopment as well as extensive flood protection, roadway
improvements, and other infrastructure improvements. A current site plan ofthe property
included in the ECSP is attached to this Agreement as Exhibit A. As part of the ECSP approvals,
Livermore approved a Paragon Outlets Livermore Valley Project as a retail outlet center
containing approximately 540,000 square feet; the current optionee of this property and the
developer ofthe retail project is Paragon Outlets Livermore Valley LLC, a Delaware limited
liability company ("Paragon"). Livermore currently anticipates that construction ofthe Paragon
Outlets Livermore Valley Project will begin in July 2011.
C. Also as part of the ECSP approvals, Livermore has established City of Livermore
Community Facilities District No. 2009-1 (EI Charro) ("CFD"), permitting Livermore to levy a
special tax ("Special Tax") on certain property within the ECSP area, to be used for financing
the construction of flood protection improvements, roadway improvements, and other
infrastructure improvements. A map and list ofAPN's describing the CFD and the five (5)
"Improvement Areas" within the CFD is attached to this Agreement as Exhibit B.
D. Both Staples Ranch and the development of the property within the ECSP area
require the improvement ofEl Charro Road, and the construction offlood protection
infrastructure prior to occupancy of any portion of Staples Ranch and the property within the
ECSP area. Livermore, SPA, and the City of Pleasanton are parties to the September 2007 Cost
Sharing Agreement ("CSA"), which defmes the financial obligations of each party with respect
to the construction of flood protection improvements, roadway improvements, and other
infrastructure improvements.
E. Section 2.1 ofthe CSA specifies that if Livermore is the initial "Constructing
Agency," SPA shall pay Livermore Two Million Dollars ($2,000,000) within thirty (30) days of
Livermore's written notification to SPA that a contract has been awarded and a notice to proceed
given fur the construction ofEI Charro Road improvements.
F. Section 3.6 ofthe CSA specifies that SPA shall contribute fifty percent (50%) of
the cost ofthe flood protection improvements, up to a maximum of One Million Dollars
000299.00461746465.2 1
8. ($1,000,000), and shall provide these funds to Livermore within thirty (30) days of Livermore's
written notification to SPA that a contract has been awarded and a notice to proceed given for the
construction of the flood protection improvements.
G. As specified in Section 2.1 of the CSA, Livermore, and the City of Pleasanton by
written agreement, have determined that Livermore will remain the E1 Charro Road
"Constructing Agency," even though E1 Charro Road has been annexed to the City of
Pleasanton.
H. Livermore has determined that there are insufficient funding sources to complete
construction of Phase 1 ECSP Infrastructure Improvements (described in the following sentence)
necessary for the development of the property located in the ECS P area, and that there will be
insufficient land values within the ECSP area to support issuance ofbonds by Livermore for the
CFD until such time as the Phase 1 ECSP Infrastructure Improvements are completed. The
"Phase 1 ECSP Infrastructure Improvements" are described on Exhibit c.
I. SPA is willing to provide a loan to Livermore of Thirteen Million Four Hundred
Thousand Dollars ($13,400,000.00) to permit Livermore to construct the Phase 1 ECSP
Infrastructure Improvements, necessary for the development of Staples Ranch, subject to the
terms and conditions ofthis Agreement.
J. To provide additional gap financing for the Phase 1 ECSP Infrastructure
Improvements, Livermore is concurrently causing certificates of participation to be executed and
delivered (the "Livermore COPs"). The Livermore COPs represent fractional interests in lease
payments to be made by Livermore. The lease payments are payable from the general fund of
Livermore and Livermore will reimburse the general fund for the lease payments on a parity
basis with its repayment ofthe Loan, as described more completely in Section 4.
K. Livermore has determined that, assuming it will experience no costs in excess of
the contingencies shown on Exhibit F, the loan from SPA, along with other available moneys,
will be sufficient to complete construction of Phase 1 ECSP Infrastructure Improvements, and a
detailed sources and uses table is attached as Exhibit F.
L. Livermore has been issued all permits and approvals necessary to construct the
Phase 1 ECSP Infrastructure Improvements, with the exception of certain approvals (including,
but not limited to, the Environmental Assessment and the Finding ofNo Significant Impact)
required from the Federal Aviation Administration (''FAA Approvals"). Livermore currently
anticipates receiving the FAA Approvals by June 30,2011.
AGREEMENT
1. Loan Terms.
1.1 Amount of Loan. Subject to the terms and conditions ofthis Agreement, SPA
agrees to loan to Livermore (the "Loan") the sum ofThirteeen Million Four Hundred Thousand
Dollars ($13,400,000.00) (the "Loan Amount"). Livermore agrees that the proceeds ofthe
Loan shall be used solely to pay the costs of constructing the Phase 1 ECSP Infrastructure
Improvements.
000299.00461746465.2 2
9. 1.2 Payment; Pledge. Livennore shall repay the Loan pursuant to the terms of this
Agreement and the promissory note attached to this Agreement as Exhibit D (the "Promissory
Note"). For the benefit of SPA, Livermore shall execute the Promissory Note for and on behalf
of the CFD. In the circumstances described in this Agreement, Livennore will levy Special
Taxes in the improvement area(s) (each, an "Improvement Area") listed on Exhibit B, as
described more completely in this Agreement, according to the applicable rate and method of
apportionment of special tax (each, an "RMA"). Livennore's obligation to make payments as set
forth in this Agreement shall be secured by a first pledge ofthe following, subject to the
provisions of Section 4: (i) revenues generated by the levy of Special Taxes in the CFD
remaining after payment by Livennore ofthe reasonable costs of administering the CFD
("Special Tax Revenues"), (ii) cash contributions made by property owners to Livermore after
the Effective Date for Phase I ECSP Infrastructure Improvements pursuant to development
agreements with Livennore, excluding (A) cash contributions made by property owners to
reimburse Livermore for pre-development costs related to ECSP and (B) $680,569 of cash
contributions made to Livermore with respect to Improvement Area No.2 for Phase IB costs (as
described in the footnote to Exhibit F) ("Developer Contributions") and (iii) Collateral as
defined in and in the circumstances described in Section 2(a)(vii).
1.3 Date of Loan. Following execution of this Agreement, and upon satisfaction of
all conditions in Section 1.4, Livermore shall notify SPA in writing that Livennore agrees to
accept the Loan ("Livermore's Notice"). Subject to the terms and conditions ofthis Agreement,
including without limitation, the conditions and requirements in Sechon 1.4, SPA shall deliver
the Loan Amount to Livermore no later than thirty (30) days fo llowing SPA's receipt of
Livermore's Notice. The date SPA delivers the Loan Amount to Livennore is the "Date of
Loan. SPA acknowledges that (i) a breach of its obligation to deliver the Loan Amount to
Livennore no later than thirty (30) days following SPA's receipt of Livermore's Notice will
result in irreparable and continuing damage to Livennore for which there will be no adequate
remedy at law, and (ii) Livennore will be entitled to specific perfonnance of SPA's obligation.
Ifthe Loan has not been consummated as a result of Livennore not satisfying the
conditions stated in Section 1.4 by September 15,2011 (the "Loan Outside Closing Date"),
then at any time after the Loan Outside Closing Date either Livennore or SPA shall have the
election to terminate this Agreement, in which event the parties shall have no further rights and
obligations under this Agreement accruing after the date oftermination.
1.4 Conditions to Loan. In addition to other terms and conditions stated in this
Agreement, SPA's obligations to deliver the Loan Amount to Livermore pursuant to Section 1.3
is conditioned upon the following:
(a) Livennore's delivery to SPA ofthe Promissory Note duly completed and
executed by Livermore.
(b) There shall be no litigation (or threatened litigation known to Livermore)
by third parties that may affect in any manner the construction ofthe Phase 1 ECSP
Infrastructure Improvements.
000299.00461746465.2 3
10. (c) A contract has been awarded by Livermore for construction of the
Phase 1 ECSP Infrastructure Improvements, and copies of the contract and notice to proceed
have been delivered to SPA.
(d) All necessary permits and approvals for construction of the Phase I
ECSP Infrastructure Improvements, including the FAA Approvals and encroachment permits,
have been received by Livermore and copies of such permits and approvals have been delivered
to SPA.
(e) Livermore has delivered to SPA copies ofperformance bonds for
construction ofthe Phase 1 ECSP Infrastructure Improvements, naming Pleasanton as
"additional insured."
(f) Livermore has provided evidence that is reasonably satisfactory to SPA
that the sources of funds identified in Exhibit F to pay for the Phase I ECSP Infrastructure
Improvements are available. Exhibit F identifies those sources offunds for which, as ofthe date
ofthis Agreement, Livermore has satisfied this requirement.
2. Obligations of Livermore. Livermore agrees to the following obligations stated in this
Section 2.
(a) Livermore shall repay principal of and accrued interest on the Loan from
the following sources and on the following terms:
(i) Subject to the following provisions ofthis Agreement, Livermore
shall be obligated to repay principal of and interest on the Loan solely from (i) the proceeds of
refunding bonds issued by Livermore on behalf ofthe CFD with respect to one or more
Improvement Areas for the purpose of repaying principal of and interest on the Loan ("CFD
Refunding Bonds"), (ii) Special Tax Revenues, (iii) Developer Contnbutions and (iv) Collateral
as defined in and in the circumstances described in Section 2(a)(vii). Livermore will have no
obligation to repay principal of and interest on the Loan from any other source of funds.
(ll) Prior to the State Maturity Date (defined below) the unpaid amount
ofthe loan will accrue interest at the rate of2% per annum for the first two years, after which
time the unpaid principal amount ofthe Loan will accrue interest at an annual rate equal to the
six-month London Interbank Offered Rate ("LIBOR") plus 2%, beginning on the third
anniversary ofthe Date of Loan. The interest rate will be adjusted once a year on the
anniversary ofthe Date ofLoan. In the circumstances described in Sections 5. 1(b), (c) and (d),
interest will accrue at the rate set forth in Section 5.2. Interest on the unpaid principal amount of
the Loan shall be calculated on the basis of a 360 -day year composed on 12 30-day months.
(ill) The accrued interest will be due and payable upon repayment of
the principal amount ofthe Loan.
(iv) The stated maturity date of the Loan (the "Stated Maturity Date")
will be 10 years from the Date of Loan, as defined in Section 1.3 above. The unpaid principal
amount ofthe Loan, along with all accrued interest through the Stated Maturity Date, will be due
and payable on the Stated Maturity Date. In the event that funds available to Livermore to pay
000299.004617464652 4
11. principal of and interest on the Loan on the Stated Maturity Date are not sufficient to pay the
accrued interest and outstanding principal in their entirety, amounts paid by Livermore shall be
applied first to accrued but unpaid interest and then to unpaid principaL
(v) The unpaid principal of the Loan, along with accrued interest to the
prepayment date, may be prepaid by Livermore at any time without premium or penalty. Any
prepayment shall be applied first to accrued but unpaid interest and then to unpaid principaL
(vi) Livermore will not issue an initial tenant space certificate of
occupancy for a property within Improvement Area No.1 until it has repaid principal of and
interest on the Loan in whole. Livermore's obligation under this Section 2(a){vi) shall survive
repayment by Livermore ofthe Improvement Area Loan Portion for Improvement Area No.1.
(vii) It: at any time after the Date of Loan, Livermore receives collateral
("Collateral") from the owner ofproperty in Improvement Area No.1 as security for the
obligation of such owner to purchase CFD Refunding Bonds issued by Livermore with respect to
Improvement Area No.1 for the purpose ofrefinancing the Loan in whole ("Improvement Area
No.1 Refunding Bonds"), then within 90 days of Livermore's receipt ofthe Collateral,
Livermore will (A) issue the Improvement Area No.1 Refunding Bonds or (B) use the Collateral
to repay principal of and interest on the Loan. Unless otherwise approved by SPA, the Collateral
shall consist of either a cash deposit or an irrevocable, evergreen letter of credit issued by a
banking institution the claims-paying ability ofwhich is rated by a nationally-recognized rating
agency at least "A".
(viii) If(A) Livermore has not repaid principal of and interest on the
Loan in whole on or before the 90th day preceding the Stated Maturity Date and (B) Livermore
has not received a deposit of CollateraL SPA expects Livermore to take the following steps with
the goal of issuing CFD Refunding Bonds to repay the principal of and interest on the Loan on
the Stated Maturity Date: (X) Livermore staffto recommend the issuance ofCFD Refunding
Bonds to the City Council, (Y) the Livermore City Council to approve issuance of the CFD
Refunding Bonds and (Z) Livermore to use good faith efforts to sell CFD Refunding Bonds. The
CFD Refunding Bonds will be payable from Special Tax Revenues generated in each ofthe
Improvement Areas that has not repaid its Improvement Area Loan Portion (defined below).
(ix) Livermore will not issue an initial tenant space certificate of
occupancy for a property in any Improvement Area in the CFD other than Improvement Area
No.1 until it has repaid the percentage ofthe principal of and interest on the Loan allocable to
the Improvement Area as set forth in Exhibit E (each portion is referred to in this Agreement as
an '1mprovement Area Loan Portion") to the SPA.
(x) Upon receipt of a Developer Contribution, Livermore shall:
(A) Use any Developer Contributions received from the
owners ofproperty in Improvement Area Nos. 2, 3 4 and 5 as
follows: to repay the related Improvement Area Loan Portion, if
unpaid, in an amount equal to 57% of each Developer
Contribution, and to reimburse Livermore's general fund for the
000299.00461746465.2 5
12. lease payments related to the Livermore COPs in an amount equal
to 43% of each Developer Contribution. The portion of the
Developer Contribution used to repay an Improvement Area Loan
Portion shall be applied first to accrued but unpaid interest on the
Loan and then to unpaid principal ofthe Loan.
(B) Use any Developer Contributions received from the
owners ofproperty in Improvement Area No.1 to repay principal
of and interest on the Loan, without limitation as to the
Improvement Area No. 1 Improvement Area Loan Portion. The
portion of a Developer Contribution used to repay an Improvement
Area Loan Portion shall be applied first to accrued but unpaid
interest on the Loan and then to unpaid principal of the Loan.
(C) Use any Developer Contributions from property
owners outside the CFD as follows: (1) in an amount equal to
57% of such Developer Contributions, to repay the principal of
and interest on the Loan, crediting the Improvement Area Loan
Portions ofthe various Improvement Areas on a pro rata basis and
(2) in an amount equal to 43% of such Developer Contributions, to
reimburse Livermore for payment of the lease payments related to
the Livermore COPs. The Developer Contribution shall be applied
first to accrued but unpaid interest on the Loan and then to unpaid
principal of the Loan.
(xi) From and after the Stated Maturity Date, Livermore shall levy Special
Taxes in each Improvement Area that has not repaid its Improvement Area Loan Portion
according to the respective RMA in an amount equal to 72% ofthe Maximum Special Tax (as
defined in the RMAs) until such time as the principal and accrued interest on the Improvement
Area's respective Improvement Area Loan Portion has been paid. In this event, Livermore will
make payments to SPA on each February 1 and August 1, concurrently with payments to
reimburse the general fund for the lease payments related to the Livermore COPs and any other
parity debt issued in accordance with Section 4. Any payments shall be applied first to accrued
but unpaid interest and then to unpaid principal.
(b) From and after the Stated Maturity Date, on or about March 30 and June
30 of each fiscal year, Livermore's Finance Director will compare the amount of Special Taxes
levied in that fiscal year in each Improvement Area that has not repaid its Improvement Area
Loan Portion to t4e amount of Special Tax payments theretofore received by Livermore in such
Improvement Area. If the Finance Director determines that any single parcel subject to the
Special Tax in such Improvement Area is delinquent in the payment of more than one
installment of Special Taxes, then Livermore will send or cause to be sent a notice of
delinquency (and a demand for immediate payment thereof) to the property owner within 45
days of such determination, and (ifthe delinquency remains uncured) foreclosure proceedings
will be commenced by Livermore within 90 days of such determination.
000299.00461746465.2 6
13. (e) Livermore shall commence construction ofthe Phase 1 ECSP
Infrastructure Improvements no later than thirty (30) days after the Date of Loan. The phrase
"commence construction" means the commencement ofrough grading.
(d) Livermore shall complete construction of all ECSP Phase I Infrastructure
Improvements and certifY the completion of construction of the flood control improvements in
accordance with the FEMA CLOMR No. 08-09-1228R and E1 Charro Infrastructure Plans dated
April 26, 2011 by no later than 18 months after the Date of Loan, unless paleontological or
archeological resources are discovered during construction or as a result ofthe occurrences of
Force Majeure that impact the overall construction schedule ofthe Phase 1 ECSP Infrastructure
Improvements, in which case the date of completion of construction may be delayed on a day
for-day basis for the period oftime that construction is delayed. If requested by SPA,
Livermore shall provide a written explanation of the need for and amount oftime that
construction was delayed.
(e) Livermore will use reasonable care and oversight regarding construction
ofthe Phase 1 ECSP Infrastructure Improvements for the purpose of causing the Phase 1 ECSP
Infrastructure Improvements to be constructed within budget and by the date that is 18 months
after the Date of Loan, unless paleontological or archeological resources are discovered during
construction or as a result ofthe occurrences of Force Majeure that result in construction delays
that impact the construction schedule ofthe Phase 1 ECSP Infrastructure Improvements, in
which case the date of completion of construction may be delayed on a day-for-day basis for the
period oftime that construction is delayed. In the event the Phase 1 ECSP Infrastructure
Improvements are not completed within the time set forth in the previous sentence, Livermore
will promptly pursue all remedies available to it under its construction contract(s) related to the
Phase 1 ECSP Infrastructure Improvements and will pay to the County any liquidated damages
it receives pursuant to such construction contracts.
(1) Livermore will diligently exercise its right to collect Developer
Contributions when due.
(g) In the event that that the total costs of constructing the Phase 1 ECSP
Infrastructure Improvements exceed the expected costs (including contingencies) as shown on
Exhibit F, Livermore and SPA will meet and confer to discuss the options for completing the
Phase 1 ECSP Infrastructure Improvements.
(h) Livermore will, to the extent reasonably possible, use the other sources of
money listed on Exhibit F to pay the costs of constructing the Phase I ECSP Infrastructure
Improvements before using the proceeds of the Loan for that purpose.
(i) Upon completion of construction ofthe Phase 1 ECSP Infrastructure
Improvements, Livermore will use any ofthe funds listed on Exhibit F that are not required to
pay such costs to prepay principal of and accrued interest on the Loan. Any such funds shall be
applied first to accrued but unpaid interest on the Loan and then to unpaid principal ofthe Loan.
If this Agreement terminates pursuant to Section 1.3, Livermore's obligations pursuant to
this Section 2 shall cease.
000299.00461746465.2 7
14. 3. Modification of SPA's Obligation Under eSA. As a condition to SPA executing this
Agreement and providing the Loan Amount to Livermore, Livermore agrees that SPA may, at its
election, defer the payment of up to Three Million Dollars ($3,000,000) due Livermore under
Sections 2.1 and 3.6 ofthe CSA until no later than April 15, 2012. If SPA elects to defer
payment of all or a portion ofthe up to Three Million Dollars ($3,000,000), SPA will pay
Livermore two percent (2%) simple annual interest on the deferred amount, calculated from the
Date ofLoan until the amount is paid to Livermore. Livermore agrees that this provision is a
waiver of SPA's obligations under Sections 2.1 and 3.6 ofthe CSA pursuant to Section 16 of the
CSA unless Livermore elects not to accept the Loan Amount from SPA by the Loan Outside
Closing Date, in which case SPA's payment obligations pursuant to Section 2.1 and 3.2 ofthe
CSA shall apply.
4. Additional Debt. Livermore will not encumber, pledge or place any charge or lien upon
the Developer Contributions that is superior to or on a parity with the pledge ofthe Developer
Contributions set forth in Section 1.2, but shall use the Developer Contributions as described in
Section 2(a)(x).
With respect to any Improvement Area that has not repaid its Improvement Area Loan Portion,
Livermore will not encumber, pledge or place any charge or lien upon the Special Tax Revenues
that is superior to or on a parity with the pledge of the Special Tax Revenues set forth in Section
1.2, except as set forth in the remainder ofthis Section 4. In addition to the Loan, Livermore
may:
(a) Without the consent of SPA, issue CFD Refunding Bonds that are payable from
Special Tax Revenues on a parity basis to the Loan. Interest on such CFD Refunding
Bonds shall be payable on each February 1 and August 1, and principal shall be payable
on each August 1.
(b) With the prior written consent of SPA, issue bonds or incur other contractual
obligations payable from Special Tax Revenues on a parity or superior basis to the Loan
for the purpose of financing improvements that are authorized to be financed by the CFD
("CFD authorized improvements"). Interest on any such parity obligations will payable
on each February 1 and August 1 and principal will be payable on each August 1.
This section does not limit the issuance of additional debt by Livermore with respect to
an Improvement Area ifthe Improvement Area Loan Portion has been repaid.
SPA acknowledges that, in addition to the Loan and any additional debt authorized by
this Section 4, Livermore is concurrently causing the Livermore COPs to be executed and
delivered to finance the Phase 1 ECSP Improvements. The lease payments related to the
Livermore COPs are payable from the general fund of Livermore, and Livermore will reimburse
the general fund for the lease payments from Special Tax Revenues on a parity basis with its
obligations under this Agreement, with each Improvement Area obligated to reimburse the
general fund for the same percentage oflease payments as its Improvement Area Loan Portion.
Livermore will reimburse the interest component ofthe lease payments on each February 1 and
August 1, and will reimburse the principal component ofthe lease payments on each August 1.
000299.00461746465.2 8
15. Payments ofprincipal of and interest on the Loan, reimbursement of the Livermore
general fund for the lease payments related to the Livermore COPs and payments on any other
parity obligation shall be payable from Special Tax Revenues on a pro rata basis based on the
initial principal amount of each obligation.
S. Events of Default and Remedies
5.1 Events of Default. The following are "Events of Default" under this Agreement:
(a) A failure by Livermore to pay principal of and accrued interest on the
Loan on the Stated Maturity Date pursuant to Section 2(a)(iv); and
(b) Any failure by Livermore to observe and perform any covenant or
agreement on its part to be observed or performed under Sections 2(a)(vi), 2(a)(vii), 2(a)(ix),
2(a)(x), 2(a)(xi), 2(b), 2(c), 2(d), 2(e), 2(t), 2(h) and 2(i) for a period ofthirty (30) days after
written notice specif)ring such breach or failure and requesting that it be remedied, is given to
Livermore by SPA; provided, however, that in the event a breach or failure cannot be corrected
within a 30-day period, such breach or failure shall not constitute an Event of Default if
corrective action is instituted by Livermore within the 30-day period and is diligently pursued to
completion thereafter.
(c) With respect to the actions listed in clauses (X) and (Y) of Section
2(a)(viii), any failure by Livermore to undertake one or more of the actions for a period ofthirty
(30) days after written notice specif)ring such breach or failure and requesting that it be
remedied, is given to Livermore by SPA; provided, however, that in the event a breach or
failure cannot be corrected within a 30-day period, such breach or failure shall not constitute an
Event of Default if corrective action is instituted by Livermore within the 30-day period and is
diligently pursued to completion thereafter.
(d) Any failure by Livermore to issue CFD Refunding Bonds in the
circumstances described in Section 2(a)(viii) for a period ofthirty (30) days after written notice
specif)ring such failure and requesting that it be remedied, is given to Livermore by SPA;
provided, however, that in the event such failure cannot be cprrected within a 30-day period,
such failure shall not constitute an Event ofDefault if corrective action is instituted by
Livermore within the 30-day period and is diligently pursued to completion thereafter.
5.2 Remedies on Default.
(a) In the event of an Event of Default listed in Section 5.1 (a), then from and
after the Stated Maturity Date, the unpaid principal amount ofthe Loan will accrue interest at an
annual rate equal to the six-month London Interbank Offered Rate ("LIBOR") as ofthe Stated
Maturity Date plus 2%, subject to a maximum of 12%.
(b) In the event ofan Event of Default listed in Section 5.1(b) as a result of a
failure by Livermore to observe and perform any covenant or agreement on its part to be
observed or performed under Sections 2(a)(vi), 2(a)(vii), 2(a)(ix) or 2(a)(xi), the unpaid
principal amount ofthe Loan will, for as long as the Event of Default has not been remedied,
000299.00461746465.2 9
16. accrue interest at an annual rate equal to the sum of (i) the otherwise applicable interest rate and
Oi) 8%, subject to a maximum of 12%.
(c) In the event 0 f an Event 0 f Default listed in Section 5.1 (b) as a result of a
failure by Livermore to observe and perform any covenant or agreement on its part to be
observed or performed under Sections 2(a)(x), 2(b), 2(c), 2(d), 2(e), 2(f), 2(h) and 2(i),
Livermore acknowledges that (i) a breach of such provisions will result in irreparable and
continuing damage to SPA for which there will be no adequate remedy at law, and (ii) SPA will
be entitled to specific performance of Livermore's obligations under such provisions.
(d) In the event of an Event of Default listed in Section 5.1 (c), then from and
after the Stated Maturity Date and for as long as the Event of Default has not been remedied, the
unpaid principal amount of the Loan will accrue interest at an annual rate equal to the sum of (i)
the otherwise applicable interest rate and Oi) 8%, subject to a maximum 0 f 12%.
(e) In the event ofan Event ofDefault listed in Section 5.l(d), then from and
after the Stated Maturity Date, the unpaid principal amount ofthe Loan will accrue interest at an
annual rate equal to LIBOR as ofthe Stated Maturity Date plus 2%, subject to a maximum of
12%.
5.3 No Remedy Exclusive. No remedy conferred in this Agreement is intended to
be exclusive of any remedyor remedies existing at law or in equity or by statute. No delay or
omission to exercise any right or power accruing upon any default will impair any such right or
power or will be construed to be a waiver thereof, but any such right and power may be
exercised from time to time and as often as may be deemed expedient.
5.4 Remedies Subject to Applicable Law. All rights, remedies, and powers
provided to SPA may be exercised only to the extent that the exercise thereof does not violate
any applicable provisions oflaw.
6. Miscellaneous Provisions.
6.1 Entire Agreement. This Agreement, including all recitals and exhibits, and the
eSA (as modified by this Agreement) constitutes the entire agreement between the parties with
respect to the subject matter ofthis Agreement and the eSA and supersedes any and all prior or
contemporaneous understandings, negotiations, representations, promises and agreements, oral
or written, by or between the parties, with respect to the subject matter of this Agreement and the
eSA. No representations, inducements, promises, or agreements have been made in connection
with this Agreement by any party, or anyone acting on behalf of any party, other than those
expressly set forth in this Agreement.
6.2 Amendment. This Agreement may be amended, modified or supplemented only
by a writing signed by both parties.
6.3 Waiver. No waiver of any provision 0 f this Agreement shall be binding unless
executed in writing by the party making the waiver. No waiver of any provision ofthis
000299.00461746465.2 10
17. Agreement shall be deemed to constitute a waiver of any other provision, whether or not similar,
nor shall any waiver constitute a continuing waiver unless the written waiver so specifies.
6.4 Counterparts; FacsimilelElectronic Signatures. This Agreement may be
executed in counterparts, each of which shall be deemed an original and all ofwhich together
shall constitute one and the same instrument. The parties shall be entitled to rely upon facsimile
copies or electronic copies of the parties' signatures to this Agreement and any instrument
executed in connection herewith. Notwithstanding the foregoing, promptly after sending a
facsimile or electronic copy of its signature hereon, each party shall provide the other with an
executed original counterpart by overnight courier, although the failure to provide such
counterpart shall not affect the effectiveness of this Agreement.
6.S Governing Law. This Agreement is entered into in and shall be governed by and
construed in accordance with the internal laws ofthe State of California.
6.6 Jurisdiction and Venue. The parties agree that any suit, action or proceeding
arising out ofor relating to this Agreement, or the interpretation, performance or breach of this
Agreement, shall be instituted in the United States District Court for Northern District of
California, or any court ofthe State of California located in Alameda County, California.
6.7 Severability. Ifany term or provision ofthis Agreement is ever determined to be
invalid or unenforceable for any reason, such term or provision shall be severed from this
Agreement without affecting the validity or enforceability ofthe remainder of this Agreement.
6.8 Notices. All notices and other communications under this Agreement shall be in
writing and shall be deemed duly given: (a) when delivered if personally delivered to the
recipient; (b) when transmitted by telecopier or facsimile device during normal business hours,
provided such device is capable of generating a written confirmation of such transmission and
receipt and an original is deposited in first class mail within two (2) business days thereafter
addressed as set forth in this Section; (c) on the first business day following delivery to an
overnight delivery service, provided delivery is confirmed by the delivery service; and (d) on the
earlier of actual receipt or three (3) days following deposit in United States certified mail,
postage prepaid and return receipt requested, addressed to the parties as set forth in this Section.
Any party may change its address for notices by giving written notice to the other parties in the
manner set forth above.
To Livermore: City of Livermore
1052 S. Livermore Avenue
Livermore, CA 94550
Attn: City Engineer and City Attorney
To SPA: Surplus Property Authority of Alameda County
224 West Winton Avenue, Room 110
Hayward, California 94544
Attn: Director and Manager
000299.00461746465.2 11
18. With an additional copy to: Wendel, Rosen, Black & Dean, LLP
1111 Broadway, Suite 2400
Oakland, California 94607
Attn: Michael A. Dean
6.9 Successors and Assigns. This Agreement shall be binding upon and shall inure
to the benefit of the parties to this Agreement and their respective successors and assigns,
notwithstanding any contrary provision in any ordinance, resolution, law, rule, regulation or
other agreement of Livermore or SPAin effect as of the Effective Date of this Agreement or at
any time thereafter; provided, SPA is not obligated to make the loan pursuant to this Agreement
to any person or entity other than Livermore.
6.10 No Third Party Beneficiary. This Agreement is made solely for the benefit of
the parties and their respective successors and assigns, and no person or entity shall have or
acquire any rights or remedies under this Agreement except as otherwise expressly provided in
this Agreement.
Executed on the Effective Date.
THE CITY OF LIVERMORE, a California SURPLUS PROPERTY AUTHORITY OF
municipal corporation ALAMEDA COUNTY, a California public
corporation
By: ~4.1i..
Name: """"t1JifJ~tbv
Its: Om M(LY1.~-eV'"
Date: ~~
Attest: _ZJ_--=~~~ _ ________
City Clerk
Approved as form by:
~~
County Counsel
000299.00461746465.2 12
19. City Limits
Specific Plan Area
Retail Land Use
Temporary Parking
Open Space
EXHIBIT A
20. ......
o
o PROPOSED BOUNDARIES Of
COMMUNITY FACILITIES DISTRICT NO. 2009-1 (EL CHARRO)
CITY OF UVERMORE
COUNTY Of AlAMEDA. STATE Of CAUfORNIA.
t
SCAI.[, , ' . _
INTERSTATE-5S0
.- > --
---------------------
k.~. :,;,~~. ·1 ROAD -----
f'Ul) III lfC 0FF'1C[ Of K an aJ.'Rt( t7 tHE em' OF
!--- U'4'MIQRt: 'MS _ _ _ OAY 0._ _ _ ,21)00
® QlY aDUe.
aTY OF' lM'JIIYI'lRE
I ....., CIJII"f'FY 'tHAT 'tHE WltlM "AP ~ l"'tIorosr:D
0QUtrrI)NtI['S Of' ~ FAWlID QfSTIIICT MO.. 2001-1
(£I. ....,...,~ em OF U'otIIIoIQIOL CDOIIT't OF ........,., sr....
OF' (:AfJf'CIMA. WAS APPROf:D 1'1 M CITY COUNCIl. OF' THE
QT"t' OF IN£I8IOIIt£. AT A, ~ 1HEIIEfF. HEIJ) ON 1'H[
_ _ OA'1 Dt.-- 2IX1O. BY I'1'S
.-.<:} RE$IlUIlIOII NO. _ _ __
enva..ER1C
CTV OF UVERIAOR£
d FUll 11I15 _ _ _ ,,",Y 0._ _ _• 2OOt. AT 1HE HOUR or
'::=1 ~AAal.
--
_ _ _ O'a..ocK _ _...... IIOClI( _OF IoW'$ or
104-000I-ODJ.-..'1 ASSESaiOtT AM) COU.....1Y FACl.Jl'D 0t$11iIICT5 AT PAGl:_ _
--'-000-00 DQt(';IMEHT NO. IN 14£ a:TICE OF lHlE <::;:QUNTV
COLOR LEGEND: REtXIRDEJt 1M 1t£ COUNTY or AI..AWEl)A" STATE OF CAIXOANA.
- IMPROVEMENT AREA 2
I
I CDOIIT't_
AlAMaIA CDOIIT't
- IMPROVEMENT AREA 3 i STATE OF' CAtJP'CItNIA
- IMPROVEMENT AREA 4 [::::J. - IMPROVEMENT AREA 5/
I ,.-
I ~
-~ ASSESSOR PARC£LS '-THIN lQJHDAR"(:
- - - - CFO NO. 2001-1 eOUNOARO en. CHARAO)
~M PARDCOt.ARS Of UN£S AND M.IDlSfONS Of PARCEL$. RrF'tREN:CE
PNtal. P'la"ERTY LM
~ IS MAOt TO AS5(S~ PARCEL HUIota£RS or Al.AIAEDA COUNTY.
ill REffA£NC£ NUMBE:R FM PARCELS
SHEET 1 or B
EXHIBIT B
21. EXHIBIT C
1. Public Improvements. The total public improvements are estimated to
have a cost in excess of $62,000,000 and may be constructed in phases as properties
within the Plan Area are developed. Phase 1 includes the backbone infrastructure,
roads and flood control, necessary for all development in the ECSP and Staples Ranch
area. The Phase I Public Improvements are more specifically described as follows:
A. Roadway Improvements.
(1) Jack London Boulevard: Pursuant to the design identified
in the ECSP, Jack London Boulevard shall be constructed between El Charro
Road and Road A including street lighting, median landscaping and other
roadway appurtenances. A traffic signal shall be installed at the intersection of
Jack London Boulevard and Road A. The initial roadway shall be built between
El Charro Road and Road A prior to abandonment of Freisman Road Access.
A two-lane roadway facility will also be required between Road A and
existing Jack London Boulevard terminus approximately 1,100 feet west of
Kitty Hawk Road/Isabel Avenue. The portions of the bridge (foundations,
abutments, etc.) affecting the creek corridor at Arroyo Las Positas shall be built
pursuant to final design plans. Modifications to the City's Las Positas Municipal
Golf Course shall be constructed and completed by City prior to Jack London
Boulevard construction through the Golf Course.
(2) El Charro Road: El Charro Road shall be widened from 1
580 to the intersection of the new alignment of Jack London Boulevard and
includes necessary transition south of Jack London Boulevard, installation of a
joint utility trench along the frontage of the Property, street lighting, median
landscaping, and other roadway appurtenances. A traffic signal shall be
installed at the intersection of EI Charro Road and Jack London Boulevard. The
widening of EI Charro Road shall be coordinated with Zone 7 and City to
accommodate Zone 7' s proposed construction of a water line in EI Charro Road.
The roadway shall be widened pursuant to final design plans and specifications
approved by City consistent with the ECSP.
(3) Road A: Freisman Road shall be realigned and designated
as Road A and centered between Developer's Property and the adjacent parcel
currently owned by Roger Johnson, including street lighting, median
landscaping, other roadway appurtenances, and a new intersection with Jack
London Boulevard and consistent with the approved ECSP. A traffic signal
shall be installed at the intersection of Jack London Boulevard and Road A. At
all times during construction of the Freisman Road realignment, reasonable
access shall remain open for vehicles to the existing properties currently served
by Freisman Road.
EXHIBIT C
22. (4) EI Charro Road/I-SSO Interchange Improvements: City
shall construct or cause to be constructed eastbound on-ramp modifications and
roadway appurtenances at the EI Charro Road/I-SSO Interchange in coordination
with or soon after completion of the City of Dublin Fallon Road/I-SSO
Interchange project.
B. Trail Improvements.
The Phase I Public Improvements shall include a paved
trail adjacent to the Jack London Boulevard extension and/or south and north of
the Arroyo Las Positas connecting the existing trail along the existing section of
Jack London Boulevard to an existing trail on the west side ofEI Charro Road.
These trail improvements include construction of a pedestrian bridge over the
Arroyo Las Positas.
C. Other Infrastructure.
(1) Joint Trench for Utilities: A joint trench shall be
constructed for telecommunications, electrical and gas utilities to serve the Plan
Area and shall be sized to adequately serve the entire aggregate of development
anticipated in the entire Plan Area. As part of the Phase IA Public
Improvements, the joint trench will extend along the ECSP frontage on EI
Charro Road, and along Jack London Boulevard from EI Charro Road to
approximately 200' east of Road A. The joint trench shall extend along a
portion of Road A to the City property line, with only gas extending along Road
A and Freisman Road.
(2) Electric Service: City shall work with Pleasanton,
Dublin and other private and public utility companies to obtain approvals for
electrical service to be extended along EI Charro Road from Stanley Boulevard
to the ECSP frontage, along Jack London Boulevard to approximately 200' east
of Road A, and along a portion of Road A to the City property line.
(3) Emergency Vehicle Access: In the event that the
Jack London Boulevard extension between Road A and the existing terminus
approximately 1,100 feet west of Kitty Hawk Road/Isabel Avenue is not
anticipated to be completed within six (6) months after to Developer's
occupancy ofthe property, then an alternate Emergency Vehicle Access (EVA)
shall be constructed prior to occupancy, subject to final design approval by the
City.
(4) Storm Water and Flood Control Improvements:
The construction of stonn water and flood control improvements as defined in
the ECSP and as more fully refined in the final design plans which serve the
ECSP and Staples Ranch area.
2
EXHIBIT C
23. (5) Water Quality Improvements: On-site storm water
quality control that treats fifty percent (50%) of the storm water runoff from the
Project shall be constructed. Off-site storm water quality improvements to
handle the fifty percent (50%) treatment requirements for the Project (i.e., HMP
Basin 1) shall be constructed as designated in the ECSP. Phase I Public
Improvements also includes mass grading and hydro seeding of HMP Basin 2 &
3 areas.
(6) Sewer Improvements: A sanitary sewer force
main, gravity sewer mains, and sewer pump station to serve the ECSP area shall
be constructed.
(7) Recycled Water: Recycled water pipes across the
golf course and along Jack London Boulevard from El Charro Road to Road A
with appropriate stubs for future interconnection shall be provided.
(8) Potable Water System: Potable water shall be
extended from the Golf Course and along Freisman Road and a portion of Road
A to the Project, and a looped system shall be constructed by the Developer on
the Project site prior to Project occupancy. Additional potable water lines shall
be constructed along Jack London Boulevard to the existing water line at the
Golf Course snack shack, and adjacent to Road A to the sewer pump station.
(9) Environmental Mitigations: The creek mitigation
planting plan and monitoring shall be implemented in accordance with the
Mitigation and Monitoring Plan for the ECSP.
3
EXHIBIT C
24. EXHIBIT D
Promissory Note
$13,400,000.00 Oakland, California
(1) , 2011
FOR VALUE RECEIVED, the undersigned, City of Livermore, a California municipal
corporation ("Payor"), for and on behalf of the City of Livermore Community Facilities District
No. 2009-1 (EI Charro) with respect to its Improvement Areas, promises to pay to the order of
Surplus Property Authority of Alameda County, a California public corporation ("Payee"), at the
times and in the manner set forth in this Promissory Note, the principal sum of Thirteen Million
Four Hundred Thousand Dollars ($13,400,000.00). This Promissory Note is referred to as the
"Note." Capitalized terms used in this Note but not defined have the meaning given them in the
Loan Agreement dated June 28, 2011 between Payor and Payee (the "Loan Agreement").
1. Repayment of Note.
(a) Repayment of Note. Payor shall repay the principal sum of this Note,
together with all accrued and unpaid interest to the date of such principal payment pursuant to
the provisions of Section 2 of the Loan Agreement, a copy of such Section is attached to this
Note as Schedule 1.
The accrued interest will be due and payable by Payor upon repayment ofthe principal
amount of this Note.
(b) Interest Rate. The unpaid principal amount of the Loan will accrue
interest at the rate set forth in Section 2 of the Loan Agreement.
(c) Place of Payment. All payments under this Note shall be made to Payee
at the address stated in Section 2(b), or at such other place as Payee or other holder of this Note
may otherwise from time to time designate in writing.
(d) Computation oflnterest and Fees. All computations of interest shall be
calculated on the basis of a year consisting of three hundred sixty (360) days composed of 12 30
day months.
(e) Voluntary Prepayments. Payor shall have the right to prepay at any time
all of any portion of the principal amount ofthe indebtedness evidenced by this Note without
premium or penalty, along with any accrued interest to the prepayment date.
(f) Holidays. If any payment to be made by Payor would otherwise become
due on a day other than a Business Day, such payment shall be due on the next succeeding
000299.0046 17464652
25. Business Day. A "Business Day" means each day except Saturdays, Sundays, or any holiday for
which banks in Alameda County are closed.
(g) Source of Repayment On or Before the Maturity Date. The Loan will
be payable by Payor on or before the Maturity Date in the circumstances and from the sources
described in Schedule 1.
(h) Partial Payments. In the event that any payment by Payor to Payee is not
sufficient to pay the accrued interest and outstanding principal in their entirety, amounts paid by
Payor shall be applied by Payee first to accrued but unpaid interest and then to unpaid principal.
2. Miscellaneous.
(a) Additional Debt. Payor may incur additional debt payable from the
revenues pledged by Payor under the Loan Agreement as set forth in Section 4 of the Loan
Agreement.
(b) Successors and Assigns. This Note shall be binding on Payor, and shall
inure to the benefit of Payee, in each case, together with their respective successors and
permitted assigns.
(c) Notices. All notices and other communications under this Note shall be in
writing and shall be deemed duly given: (a) when delivered if personally delivered to the
recipient; (b) when transmitted by telecopier or facsimile device during normal business hours,
provided such device is capable of generating a written confirmation of such transmission and
receipt and an original is deposited in first class mail within two (2) business days thereafter
addressed as set forth in this Section; (c) on the first business day following delivery to an
overnight delivery service, provided delivery is confirmed by the delivery service; and (d) on the
earlier of actual receipt or three (3) days following deposit in United States certified mail,
postage prepaid and return receipt requested, addressed to the parties as set forth in this Section.
Payor or Payee may change its address for notices by giving written notice to the other parties in
the manner set forth in this Section.
Payee: Surplus Property Authority of Alameda County
224 West Winton Avenue, Room 110
Hayward, California 94544
Attn: Director and Manager
With an additional copy to: Wendel, Rosen, Black & Dean, LLP
1111 Broadway, Suite 2400
Oakland, California 94607
Attn: Michael A. Dean
000299,00461746465,2 2
26. Payor: City of Livermore
1052 S. Livermore Avenue
Livermore, California 94550
Attention: City Manager and City Attorney
(d) Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of California.
(e) Repayment. Upon the timely repayment by Payor of all principal,
interest and other sums and charges due and payable under this Note, the holder ofthis Note
shall return the original of this Note to Payor marked "Canceled", and shall execute,
acknowledge and deliver to Payor any instruments as are reasonably necessary in order to
evidence such repayment and satisfaction in full of the Payor's obligations under this Note.
EXECUTED on the above stated date.
PAYOR:
CITY OF LIVERMORE,
a California municipal corporation, for and on
behalf of City of Livermore Community Facilities
District No. 2009-1 (EI Charro) with respect to its
Improvement Areas
By:
Name:
Title:
------------------------------
000299,00461746465.2 3
27. Schedule 1
Obligations of Livermore. Livennore agrees to the following obligations stated in this
Section 2.
(a) Livennore shall repay principal of and accrued interest on the Loan from
the following sources and on the following tenns:
(i) Subject to the following provisions of this Agreement, Livennore
shall be obligated to repay principal of and interest on the Loan solely from (i) the proceeds of
refunding bonds issued by Livennore on behalf of the CFD with respect to one or more
Improvement Areas for the purpose of repaying principal of and interest on the Loan ("CFD
Refunding Bonds"), (ii) Special Tax Revenues, (iii) Developer Contributions and (iv) Collateral
as defined in and in the circumstances described in Section 2(a)(vii). Livennore will have no
obligation to repay principal of and interest on the Loan from any other source of funds.
(ii) Prior to the Stated Maturity Date (defined below), the unpaid
principal amount of the Loan will accrue interest at the rate of 2% per annum. Beginning on the
Stated Maturity Date, interest will thereafter accrue at the rate set forth in Section 5.2. In the
circumstances described in Sections 5.1 (b) (c) and (d), interest will accrue at the rate set forth in
Section 5.2. Interest on the unpaid principal amount of the Loan shall be calculated on the basis
of a 360-day year composed of 12 30-day months.
(iii) The accrued interest will be due and payable upon repayment of
the principal amount of the Loan.
(iv) The stated maturity date of the Loan (the "Stated Maturity Date")
will be 10 years from the Date of Loan, as defined in Section 1.3 above. The unpaid principal
amount of the Loan, along with all accrued interest through the Stated Maturity Date, will be due
and payable on the Stated Maturity Date. In the event that funds available to Livennore to pay
principal of and interest on the Loan on the Stated Maturity Date are not sufficient to pay the
accrued interest and outstanding principal in their entirety, amounts paid by Livennore shall be
applied first to accrued but unpaid interest and then to unpaid principal.
(v) The unpaid principal of the Loan, along with accrued interest to the
prepayment date, may be prepaid by Livennore at any time without premium or penalty. Any
prepayment shall be applied first to accrued but unpaid interest and then to unpaid principal.
(vi) Livennore will not issue an initial tenant space certificate of
occupancy for a property within Improvement Area No. 1 until it has repaid principal of and
interest on the Loan in whole. Livennore's obligation under this Section 2(a)(vi) shall survive
repayment by Livennore of the Improvement Area Loan Portion for Improvement Area No.1.
(vii) If, at any time after the Date of Loan, Livennore receives collateral
("Collateral") from the owner of property in Improvement Area No.1 as security for the
obligation of such owner to purchase CFD Refunding Bonds issued by Livennore with respect to
000299.004611746465.2 4
28. Improvement Area No. 1 for the purpose of refinancing the Loan in whole ("Improvement Area
No.1 Refunding Bonds"), then within 90 days of Livermore's receipt ofthe Collateral,
Livermore will (A) issue the Improvement Area No.1 Refunding Bonds or (B) use the Collateral
to repay principal of and interest on the Loan. Unless otherwise approved by SPA, the Collateral
shall consist of either a cash deposit or an irrevocable, evergreen letter of credit issued by a
banking institution the claims-paying ability of which is rated by a nationally-recognized rating
agency at least "A".
(viii) If (A) Livermore has not repaid principal of and interest on the
Loan in whole on or before the 90th day preceding the Stated Maturity Date and (B) Livermore
has not received a deposit of Collateral, SPA expects Livermore to take the following steps with
the goal of issuing CFD Refunding Bonds to repay the principal of and interest on the Loan on
the Stated Maturity Date: (X) Livermore staff to recommend the issuance of CFD Refunding
Bonds to the City Council, (Y) the Livermore City Council to approve issuance of the CFD
Refunding Bonds and (Z) Livermore to use good faith efforts to sell CFD Refunding Bonds. The
CFD Refunding Bonds will be payable from Special Tax Revenues generated in each of the
Improvement Areas that has not repaid its Improvement Area Loan Portion (defined below).
(ix) Livermore will not issue an initial tenant space certificate of
occupancy for a property in any Improvement Area in the CFD other than Improvement Area
No. I until it has repaid the percentage of the principal of and interest on the Loan allocable to
the Improvement Area as set forth in Exhibit E (each portion is referred to in this Agreement as
an "Improvement Area Loan Portion") to the SPA.
(x) Upon receipt of a Developer Contribution, Livermore shall:
(A) Use any Developer Contributions received from the
owners of property in Improvement Area Nos. 2,34 and 5 as
follows: to repay the related Improvement Area Loan Portion, if
unpaid, in an amount equal to 57% of each Developer
Contribution, and to reimburse Livermore's general fund for the
lease payments related to the Livermore COPs in an amount equal
to 43% of each Developer Contribution. The portion of the
Developer Contribution used to repay an Improvement Area Loan
Portion shall be applied first to accrued but unpaid interest on the
Loan and then to unpaid principal of the Loan.
(B) Use any Developer Contributions received from the
owners of property in Improvement Area No. I to repay principal
of and interest on the Loan, without limitation as to the
Improvement Area No.1 Improvement Area Loan Portion. The
portion of a Developer Contribution used to repay an Improvement
Area Loan Portion shall be applied first to accrued but unpaid
interest on the Loan and then to unpaid principal of the Loan.
(C) Use any Developer Contributions from property
owners outside the CFD as follows: (1) in an amount equal to
000299.00461746465.2 5
29. 57% of such Developer Contributions, to repay the principal of
and interest on the Loan, crediting the Improvement Area Loan
Portions of the various Improvement Areas on a pro rata basis and
(2) in an amount equal to 43% of such Developer Contributions, to
reimburse Livermore for payment of the lease payments related to
the Livermore COPs. The Developer Contribution shall be applied
first to accrued but unpaid interest on the Loan and then to unpaid
principal of the Loan.
(xi) From and after the Stated Maturity Date, Livermore shall levy Special
Taxes in each Improvement Area that has not repaid its Improvement Area Loan Portion
according to the respective RMA in an amount equal to 72% ofthe Maximum Special Tax (as
defined in the RMAs) until such time as the principal and accrued interest on the Improvement
Area's respective Improvement Area Loan Portion has been paid. In this event, Livermore will
make payments to SPA on each February 1 and August 1, concurrently with payments to
reimburse the general fund for the lease payments related to the Livermore COPs and any other
parity debt issued in accordance with Section 4. Any payments shall be applied first to accrued
but unpaid interest and then to unpaid principal.
(b) From and after the Stated Maturity Date, on or about March 30 and June
30 of each fiscal year, Livermore's Finance Director will compare the amount of Special Taxes
levied in that fiscal year in each Improvement Area that has not repaid its Improvement Area
Loan Portion to the amount of Special Tax payments theretofore received by Livermore in such
Improvement Area. If the Finance Director determines that any single parcel subject to the
Special Tax in such Improvement Area is delinquent in the payment of more than one
installment of Special Taxes, then Livermore will send or cause to be sent a notice of
delinquency (and a demand for immediate payment thereof) to the property owner within 45
days of such determination, and (if the delinquency remains uncured) foreclosure proceedings
will be commenced by Livermore within 90 days of such determination.
(c) Livermore shall commence construction of the Phase 1 ECSP
Infrastructure Improvements no later than thirty (30) days after the Date of Loan. The phrase
"commence construction" means the commencement of rough grading.
(d) Livermore shall complete construction of all ECSP Phase I Infrastructure
Improvements and certify the completion of construction of the flood control improvements in
accordance with the FEMA CLOMR No. OS-09-122SR and EI Charro Infrastructure Plans dated
April 26, 2011 by no later than 18 months after the Date of Loan, unless paleontological or
archeological resources are discovered during construction or as a result of the occurrences of
Force Majeure that impact the overall construction schedule of the Phase 1 ECSP Infrastructure
Improvements, in which case the date of completion of construction may be delayed on a day
for-day basis for the period of time that construction is delayed. If requested by SPA,
Livem10re shall provide a written explanation of the need for and amount of time that
construction was delayed.
(e) Livermore will use reasonable care and oversight regarding construction
of the Phase 1 ECSP Infrastructure Improvements for the purpose of causing the Phase 1 ECSP
000299.0046i 1746465.2 6
30. Infrastructure Improvements to be constructed within budget and by the date that is 18 months
after the Date of Loan, unless paleontological or archeological resources are discovered during
construction or as a result ofthe occurrences of Force Majeure that result in construction delays
that impact the construction schedule of the Phase 1 ECSP Infrastructure Improvements, in
which case the date of completion of construction may be delayed on a day-for-day basis for the
period of time that construction is delayed. In the event the Phase 1 ECSP Infrastructure
Improvements are not completed within the time set forth in the previous sentence, Livermore
will promptly pursue all remedies available to it under its construction contract(s) related to the
Phase 1 ECSP Infrastructure Improvements and will pay to the County any liquidated damages
it receives pursuant to such construction contracts.
(1) Livermore will diligently exercise its right to collect Developer
Contributions when due.
(g) In the event that that the total costs of constructing the Phase 1 ECSP
Infrastructure Improvements exceed the expected costs (including contingencies) as shown on
Exhibit F, Livermore and SPA will meet and confer to discuss the options for completing the
Phase 1 ECSP Infrastructure Improvements.
(h) Livermore will, to the extent reasonably possible, use the other sources of
money listed on Exhibit F to pay the costs of constructing the Phase 1 ECSP Infrastructure
Improvements before using the proceeds of the Loan for that purpose.
(i) Upon completion of construction of the Phase 1 ECSP Infrastructure
Improvements, Livermore will use any of the funds listed on Exhibit F that are not required to
pay such costs to prepay principal of and accrued interest on the Loan. Any such funds shall be
applied first to accrued but unpaid interest on the Loan and then to unpaid principal of the Loan.
If this Agreement terminates pursuant to Section 1.3, Livermore's obligations pursuant to
this Section 2 shall cease.
000299.0046 1746465.2 7
31. EXHIBIT E
Improvement Area Loan Portion
Improvement Area Improvement Area Loan
I Improvement Area
Loan Portion
%
I Portion
$
No. I 42.5% $5,695,000
No.2 1l.5 1,541,000
No.3 10.3 1,380,200 I
No.4 14.4 1,929,600
No.5 21.3 2,854,200
Total 100.0% 13,400,000
000299.00461746465.2
32. EXHIBIT F
Sources and Uses for Phase 1 ECSP Infrastructure Improvements
I,USES Phase 1
Public Infrastructure R!W (net)
$1,034,600
ECSP Phase 1 Base Bid Ghilotti
$19,968,300
Add All Trail and HMP Basin2/3
$219,000
Add Alt Church and Bridge
$891,900
HMRMP Construction
$640,000
! Golf Course Reconfiguration inc Benn $5,500,000
I Construction Contingency (10%) $2,721,900
i Biological Contingency $200,000
I Construction Management & CA $1,643,800
i Design Services During Construction $514,000
Environmental Monitoring/Surveys
$200,000
i Testing and Special Inspection $850,000
SPA Portion Design Services
$750,000
Environmental Mit (land, endow, & pond credits)
$2,400,000
El Charro Interchange
$1,000,000
Utility Agreements (PG&E)
$500,000
Estimated Total Uses
$39,033,500
SOURCES
ACSPALoan*
$13,400,000
i City COP (net) $10,000.000
City TIF Contribution
$954,761 I
City Water User Fee $398.650
Cit~ Trail Grant Contribution
$535,714
Alameda County Surplus *
$3,000.000
Zone 7 Contribution
$7,500,000
City General Fund
$2.000,000
Caltrans Mitigation $692.000
Church Contribution
$552,375
! Estimated Total Sources $39.033,500
Notes: Contributions, except SPA and Golf Course, reduced by required share toward
environmental, pennitting and design. Total Church contribution including pennits and design is
$680,569 and is not pledged to Loan repayment
* Livennore has provided satisfactory evidence of the availability of this source of funds. [to be
completed prior to execution]
000299.00461746465.2