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Home My WebLink About154-08 RESOLUTION NO. 154-2008 APPROPRIATING $114,720 FROM CIP PROJECT NO. A-510 TO FUND THE VETERANS MEMORIAL DEVELOPMENT COMMITTEE OF SAN RAMON VALLEY WHEREAS, the Veteran's Memorial Building Development CoIIlIIlittee of San Ramon Valley is a SOl (c) 3 organization formed with the goal of providing a new Veterans Memorial Building for the San Ramon Valley; and WHEREAS, the Veteran's Memorial Building Development Committee of San Ramon Valley is preparing to undertake a major capital campaign with the goal of raising $3 million for the project, including $2 million to re-construct the building and $1 million for veterans furnishings and a veterans endowment fund; and WHEREAS, the Veteran's Memorial Building Development Committee of San Ramon Valley has requested financial assistance from the Town of Danville in order to complete this process; now, therefore, be it RESOLVED, that the Danville Town Council hereby appropriates $114,720 from CIP Project No. A-SID for the Veteran's Memorial Building Development Committee of San Ramon Valley, subject to the following: · Funds shall be provided as an advance against funding raised by the capital campaign to be undertaken. The first funds raised by the Veteran's Memorial Building Development Committee of San Ramon Valley will be utilized to reimburse the Town for funding advanced through this resolution; and such reimbursement will occur in full prior to award of a project construction contract by the Town. · The first $2 million raised by the Veteran's Memorial Building Development Committee of San Ramon Valley, after covering the direct cost of the capital campaign, will be allocated for re-construction of the building as part of CIP Project A-SID. · The Veteran's Memorial Building Development Committee of San Ramon Valley will provide the Town Council with quarterly updates on the status of the capital campaIgn. These provisions shall be set forth in an agreement between the Veteran's Memorial Building Development Committee of San Ramon Valley and the Town of Danville.. The Town Council hereby authorizes the Town Manager to execute said agreement. APPROVED by the Danville Town Council at a regular meeting on December 16, 2008, by the following vote; AYES: Arnerich, Andersen, Doyle, Shimansky, Stepper NOES: None ABSTAINED: None ABSENT: None APPROVED AS TO FORM: ATTEST: W13~ CITY ATTORNEY )-- PAGE 2 OF RESOLUTION NO. 154-2008