HomeMy WebLinkAbout8490RESOLUTION NO 8490
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE " CITY OF
PUEBLO, A MUNICIPAL CORPORATION, AND THE HARP FOUNDATION,
A COLORADO CHARITABLE NONPROFIT CORPORATION, REGARDING
THE RECIPIENT SHARE OF THE COST FOR ECONOMIC DEVELOPMENT
ADMINISTRATION FINANCIAL ASSISTANCE AWARD NO. 05 -01 -02935
TO CONSTRUCT INFRASTRUCTURE IMPROVEMENTS ON THE HISTORIC
ARKANSAS RIVERWALK OF PUEBLO AND AUTHORIZING THE
PRESIDENT OF CITY COUNCIL TO EXECUTE SAME
, :V,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PUEBLO,
COLORADO, that:
Section 1:
An agreement between the City of Pueblo, a Municipal
Corporation, and the HARP Foundation, a Colorado Charitable Nonprofit
Corporation, a copy of which is attached and incorporated and having been
approved as to form by the City Attorney, is hereby approved.
Section 2•
The President of City Council is hereby authorized to execute
and deliver said contract on behalf of the City of Pueblo, a Municipal
Corporation, and the City Clerk shall of fix the Seal of the City thereto
and attest same.
Section 3•
Funding assistance received as a result of this contract will
be a portion of the recipients share of the Economic Development
Administration Financial Assistance Award No. 05 -01- 02935.
INTRODUCED: August 10, 1998
ATTEST:
ITY CLERK
BY: Robert Schilling
COUNCILPERSON
APPR VED:
G 1/Cc�
PRESIDENT F CI Y COUNCIL
-*- Council Agenda 5 , /_-_
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE CITY OF E
PU BLO, A MUNICIPAL CORPORATION, AND THE
HARP FOUNDATION, A COLORADO CHARITABLE NONPROFIT CORPORATION, REGARDING THE RECIPIENT SHARE OF THE
COST FOR ECONOMIC DEVELOPMENT ADMINISTRATION FINANCIAL ASSISTANCE AWARD NO. 05 -01 -0 35 TO CONSTRUCT ,
Title INFRASTRUCTURE IMPROVEMENTS ON THE HISTORIC ARKANSAS RIVERWALK Agenda Item # `
OF PUEBLO AND AUTHORIZING THE PRESIDENT OF CITY COUNCIL TO EXECUTE SAME
Department: PLANNING & DEVELOPMENT Date:
ISSUE:
Should the City of Pueblo enter into an agreement with the HARP
Foundation for $712,500. This money will serve as a portion of the
recipient match for the $1.2 million EDA Grant.
BACKGROUND:
The HARP Foundation has received funds from the E1 Pomar
Foundation, the Coors Foundation, and other miscellaneous sources.
These funds are to be used to fund the Amphitheater and Grand
Entryway, the Boat House Facility, and streetscapes. The scope of
these projects are similar to the infrastructure project to be
funded by EDA. The Foundation and the various donors to the HARP
foundation have agreed to allow the Foundation to bundle a portion
of their project with the EDA Project. We are, therefore, able to
use the HARP Foundation's money as a match.
For the City to comply with Paragraph 5 of the Special Conditions
of the Economic Development Administration of the Financial
Assistance Award No. 05 -01- 02935, the City must certify that the
non - federal share of the projects costs is committed and is
available as needed for the project.
RECOMMENDATION:
Entering into this agreement with the HARP Foundation will commit
the Foundation funds and make them available for the EDA match.
Due to the fifteen (15) day turn around time allowed by EDA, please
note that at the time of writing the City Attorney has not drafted
the agreement with the Foundation. The contract will be delivered
to you as soon as we receive it. The Foundation will approve this
agreement at a special meeting to be held at 3:30 P.M. on
August 10, 1998.
M MINUMMEN,
AGREEMENT
THIS AGREEMENT entered into as of August 10, 1998 between Pueblo, a municipal
corporation (the "City ") and The HARP Foundation, a Colorado nonprofit corporation (the
"Foundation ").
WHEREAS, the Foundation has funds committed and available to it for the purpose of
assisting in the development and construction of HARP, and
WHEREAS, the City has received an Economic Development Administration Financial
Assistance Award No.05 -01 -02935 for $1.2 Million Dollars (the "Award ") for the construction of
infrastructure improvements at the HARP site (the "Project "), and
WHEREAS, as a condition of the Award the City must certify that the $962,500 non - federal
share of Project costs is committed and available as needed for the Project, and
WHEREAS, Foundation funds are necessary for City to make such certification.
NOW, THEREFORE, in consideration of City accepting the Award, and the following
mutual covenants contained herein, City and Foundation agree as follows:
1. Foundation warrants and represents that:
(a) Foundation is duly organized and validly existing in good standing under the
laws of the State of Colorado, has all necessary powers and authority to enter into and perform the
covenants and agreements on its part to be performed in this Agreement, and by proper action has
duly authorized the execution and delivery of this Agreement.
(b) This Agreement constitutes a legal, valid and binding obligation of
Foundation enforceable in accordance with its terms.
(c) Foundation is familiar with and understands what HARP infrastructure
improvements are required to be constructed and installed for the Project.
(d) Foundation has funds in the amount of $712,500 committed and available
from sources which can be used as match for the Award for the construction and installation of
portions of the HARP infrastructure improvements required to be constructed and installed for the
Project ( "Foundation Funds ").
2. Foundation shall pay and disburse Foundation Funds in an amount not less than
$712,500 as needed by the City to City's Director of Finance within thirty (30) days after written
request therefor from City.
3. If Foundation Funds are restricted by donors to specific portions of the HARP
infrastructure improvements to be constructed and installed as part of the Project, Foundation shall
so notify City in writing describing the specific HARP infrastructure improvements for the Project
and the restricted funds available therefor. City will only use such restricted Foundation Funds for
the construction and installation of those specific portions of the HARP infrastructure improvements
so described by Foundation.
4. Any notice required or permitted to be given under this Agreement shall be deemed
given when delivered or mailed certified mail, postage prepaid, as follows:
If to City: City of Pueblo, I City Hall Place, Pueblo, Colorado, 81003, Attention:
Director of Finance
If to Foundation: The HARP Foundation, 201 South Victoria, Pueblo, Colorado
81003, Attention: President
, or to such other address as either party may designate in writing given to the other party.
This Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and assigns.
Executed at Pueblo, Colorado as of the day and year first above written.
[SEAL]
PUEBLO, A MUNICIPAL CORPORATION
ATTEST: By 1/ A1,--
City Cl President of e City 6uncil
APPROVED AS TO FORM:
City Attorne
[SEA1
ATTEST:
Secretary
THE HARP FOUNDATION
By
resident