3.17 26-0826 Subject: Seminary Point - Debt And Rent Forgiveness From: Economic And Workforce Development Department Recommendation: Adopt The Following Pieces Of Legislation: 1) A Resolution Authorizing The Forgiveness Of (A) A City Loan To Athena MT, LLC, Of Up To Two Million Dollars ($2,000,000) In Outstanding Principal, Plus All Accrued And Unpaid Interest And Fees, And (B) A City Revolving Line Of Credit To Siavash Afshar With A Final Outstanding Balance Of One Million Five Hundred Thousand ($1,500,000), Plus Accrued And Unpaid Interest And Fees For The Foothill Seminary Point Retail Project, Each Contingent Upon The Sale Or Transfer Of The Project To A Qualified Purchaser; And Making Appropriate California Environmental Quality Act Findings; And - City of Oakland

Meeting: *Rules & Legislation Committee on 2026-06-25 10:30 AM

Meeting Time: June 25, 2026 at 10:30am PDT

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Agenda Item

3.17 26-0826 Subject: Seminary Point - Debt And Rent Forgiveness From: Economic And Workforce Development Department Recommendation: Adopt The Following Pieces Of Legislation: 1) A Resolution Authorizing The Forgiveness Of (A) A City Loan To Athena MT, LLC, Of Up To Two Million Dollars ($2,000,000) In Outstanding Principal, Plus All Accrued And Unpaid Interest And Fees, And (B) A City Revolving Line Of Credit To Siavash Afshar With A Final Outstanding Balance Of One Million Five Hundred Thousand ($1,500,000), Plus Accrued And Unpaid Interest And Fees For The Foothill Seminary Point Retail Project, Each Contingent Upon The Sale Or Transfer Of The Project To A Qualified Purchaser; And Making Appropriate California Environmental Quality Act Findings; And