AgdaPkt 2003-07-28 - Laserfiche WebLink

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6.2 A- i REPORT To the Honorable Mayor and City Council From the City Manager July 28, 2003 Subject Resolution to amend the Carrington Hall City of Redwood City Grant Guidelines to extend the deadline by which the Carrington Hall Auditorium Rescue Operation (CHARD) must raise sufficient funds in order to be eligible for matching City funds, and to commensurately extend the deadline for start of construction. Recommendation Adopt the proposed resolution amending the grant guidelines to extend CHARO's fundraising deadline by 12 months, to June 30, 2004, by which time that organization must raise $250,000 toward the restoration of Carrington Hall, and thereby be eligible for matching City funds, and to extend the deadline by which renovation construction must begin. Background On July 10, 2000, the City Council authorized the allocation of $250,000 in CIP funds to the Carrington Hall Auditorium Rescue Operation for the renovation of Carrington Hall at Sequoia High School. The Council determined that release of the funds would be subject to the receipt of matching funds collected by CHARD. On December 11, 2000 the City Council adopted Resolution #14102 approving grant guidelines for and authorizing disbursement of matching funds for the Carrington Hall renovation. The grant guidelines state that the City will match contributions received by CHARO between July 1, 2000 and June 30, 2003. As of June 30, 2003 CHARO has received contributions totaling $204,284. Representatives of CHARO have requested an extension of the deadline in order to complete the fundraising and be eligible for the City's grant. In light of the success so far of CHARO's fundraising efforts, and staffs confidence that they will be able to reach the goal within a reasonable amount of time, it is recommended that the City Council adopt the attached resolution amending the grant guidelines to extend the fundraising deadline to June 30, 2004, and to commensurately extend the required start date of construction of renovations to January 1, 2005. Alternative 1. The City Council could choose not to extend the deadlines and thereby preclude its obligation to make payment of matching funds to the Carrington Hall Auditorium Rescue Operation. Fiscal Impact Adoption of this resolution will have no additional fiscal impact to the City. The previously - allocated CIP funds have already been rolled -over into the 2003 -2004 fiscal year.