AGENDA DATE: 6/3/2015
TITLE:
Title
Lewis & Clark Exploratory Center Loan Extension
BODY
SUBJECT/PROPOSAL/REQUEST: Approve fourth loan extension for Lewis & Clark Exploratory Center
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Foley, Letteri, Davis, Kamptner and Henry
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: The Lewis & Clark Exploratory Center ("LCEC") leases property jointly owned by the County of Albemarle and the City of Charlottesville located at Darden Towe Park for the purpose of establishing the Lewis & Clark Exploratory Center. The LCEC was awarded grants totaling $800,000.00 from the Transportation Enhancement Fund Program ("VDOT Enhancement Program") administered by the Virginia Department of Transportation ("VDOT") to provide funding (to be combined with other funds to be raised by the LCEC) for the construction of an educational building, an access road and parking area, and a connecting trail network at Darden Towe Park. The LCEC's application for the VDOT Enhancement Program required the County to be responsible for accepting the grant from VDOT. The County was required to enter into a Project Agreement with VDOT to ensure VDOT's requirements for funding eligibility were met. The County then entered into a separate Pass-Through Agreement with LCEC that, in turn, passed along all of the County's responsibilities under the VDOT Enhancement Program to the LCEC, including holding the County harmless from any liabilities created by the County's acceptance of the VDOT Enhancement Program grants.
The LCEC advised the County that its fund-raising efforts had fallen short of its goal and by letter dated March 19, 2013, requested that the County and the City provide funding assistance in the form of a short-term loan to ensure the project would be completed and all requirements related to the enhancement grant would be met. The total shortfall was estimated at $260,000. In...
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