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<br />Resolution Terminating Existing <br />License Agreement and Approving a <br />New Month-to-Month Agreement for <br />Use of the El Faisan Market Facilities <br />June 20, 2005 <br />Page 2 <br /> <br />On May 21, 2003, the DSABA Board approved a reorganization plan. Since <br />then, DSABA has not been an actively functioning organization. <br /> <br />On October 6, 2004, the City Council, adopted Resolution No. 2003-078 <br />appointing the Community Redevelopment and Housing Commission (CRHC) in <br />the place of DSABA as the BID Advisory Board. Since DSABA no longer <br />represents the interest of the downtown businesses and is no longer the <br />BID Advisory Board, the City Staff has determined that DSABA is no longer <br />the appropriate entity to manage the subject property. The termination <br />of the El Faisan license agreement allows the City to enter into a month- <br />to-month rental agreement directly with the market operator at the <br />compensation rate of $3,000 per month. <br /> <br />FISCAL IMPACT <br /> <br />The appropriation adjustment will recognize the lease revenue of $36,000 <br />annually. Funds received will be deposited into the Downtown Maintenance <br />Fund (account no. 407-01-5804) and appropriate the same. <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />vn.~ <br /> <br />..,(otpatric~a <br />() Executl ve <br />Community <br /> <br /> <br />tMcudo <br /> <br />~d'U</ (! ~J~u/)- <br /> <br />iJ/.Franci?co G~tierrez ctJ <br />Executlve Dlrector r <br />Finance & Management Services Agency <br /> <br />Whitaker <br />irector <br />Development Agency <br /> <br />PCW/NTE/mlr <br /> <br />H:\ACTIONS\2005 CC\ResoTermExistLicAgree&ApprvNewMonth-MonthAgreeElFaisan 6-20-05.doc <br /> <br />55E-2 <br />