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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 89-10 <br /> <br /> RESOLUTION CONCERNING PROVIDING <br /> INCENTIVES TO ENCOURAGE RESTAURANTS TO <br /> LOCATE IN THE DOWNTOWN AREA <br /> <br />WHEREAS, at its meeting of January 3, 1989, Council reviewed <br /> the report of the City Manager (SR 89:14) regarding <br /> various options to encourage restaurants to locate <br /> in the downtown area; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: The City Council adopts in concept the following <br /> incentive(s) to encourage restaurants to locate in <br /> the downtown area: <br /> <br /> A. The City will provide a loan to any <br /> restaurant (as defined) locating in the <br /> downtown area, which loan will be for the sole <br /> and express purpose to pay for the cost of the <br /> restaurant's sewer connection fees with <br /> respect to the Dublin San Ramon Services <br /> District. <br /> <br /> B. Loan repayments will be spread over a 3-7 year <br /> period; in an amount of 50 to 80% of the <br /> connection fee; at a floating rate of <br /> interest; and subject to other requirements as <br /> deemed necessary. <br /> <br />Section 2: City staff is directed to prepare a document <br /> setting forth the above concept in more detail to <br /> be presented to Council for final approval. <br /> <br />Section 3: This resolution shall become effective <br /> immediately upon its passage and adoption. <br /> <br /> <br />