Title
RESOLUTION Authorizing the City Manager to Execute a Loan Agreement and Promissory Note By and Between the City of San Leandro (City) and the Davis Street Family Resource Center (DSFRC) to Assist DSFRC with Opening a Community Health Clinic Located at 1190 Davis Street (provides a $1,500,000 loan from the City’s General Fund Unrestricted Reserves to allow DSFRC to open a health clinic)
Body
WHEREAS, Davis Street Family Resource Center, a non-profit organization, desires to open a Community Health Clinic at 1190 Davis Street; and
WHEREAS, City desires to provide loans to qualified local non-profit organizations, such as Davis Street Family Resource Center, in order to assist such organizations with aiding the community; and
WHEREAS, the loan agreement between the City of San Leandro and Davis Street Family Resource Center, a copy of which is attached, is presented to this City Council; and
WHEREAS, the City Council is familiar with the contents thereof; and
WHEREAS, the City Manager recommends approval of said agreement.
NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as follows:
That the City shall loan an amount not to exceed $1,500,000 to Davis Street Family Resource Center to assist in the opening of a Community Health Clinic located at 1190 Davis Street in the City of San Leandro and the City Manager is hereby authorized to execute all documents necessary to make the loan, subject to approval as to form by the City Attorney.