4.5 15-0810 Subject: Oakland Golf LLC - Sublease And Operating Agreement From: Oakland Parks & Recreation Department Recommendation: Adopt A Resolution Authorizing The City Administrator Or Her Designee To 1) Execute A Third Amendment To The Sublease And Operating Agreement With Oakland Golf, LLC For The Operation Of Metropolitan Golf Links Course To Restructure The Minimum Annual Guarantee Rent Amount To $400,000, Amend The Percentage Rent Of Gross Revenue From Golf Activities To 13.5%, And Modify The Sublease Term To Twenty-Two Years; And 2) Execute A Settlement Agreement With Oakland Golf, LLC To Resolve Payment Of Delinquent Rent; On The April 12, 2016 Finance & Management Committee Agenda - City of Oakland

Meeting: *Rules & Legislation Committee on 2016-03-24 10:45 AM

Meeting Time: March 24, 2016 at 10:45am PDT

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Agenda Item

4.5 15-0810 Subject: Oakland Golf LLC - Sublease And Operating Agreement From: Oakland Parks & Recreation Department Recommendation: Adopt A Resolution Authorizing The City Administrator Or Her Designee To 1) Execute A Third Amendment To The Sublease And Operating Agreement With Oakland Golf, LLC For The Operation Of Metropolitan Golf Links Course To Restructure The Minimum Annual Guarantee Rent Amount To $400,000, Amend The Percentage Rent Of Gross Revenue From Golf Activities To 13.5%, And Modify The Sublease Term To Twenty-Two Years; And 2) Execute A Settlement Agreement With Oakland Golf, LLC To Resolve Payment Of Delinquent Rent; On The April 12, 2016 Finance & Management Committee Agenda