AGENDA DATE: 11/1/2017
TITLE:
Title
Lewis and Clark FY 19 Funding Consideration
BODY
SUBJECT/PROPOSAL/REQUEST: Request for donation to apply to outstanding debt
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Bill Letteri
PRESENTER (S): Bill Letteri
LEGAL REVIEW: Not Required
REVIEWED BY: Choose an item.
BACKGROUND: : In March 2013, the Lewis and Clark Exploratory Center (LCEC) advised the County that its fund raising efforts had fallen short of its goal and requested a total of $260,000 in assistance from both the City and the County to ensure that the Lewis and Clark educational building, an access road and parking area, and a connecting trail network at Darden Towe Park were completed.
On April 3, 2013, the Board of Supervisors approved an appropriation of $130,000.00 in CIP fund balance to the Economic Development Authority (EDA) for the purpose of funding a loan for the Lewis and Clark Exploratory Center, subject to: 1) an agreement between the County and the EDA regarding the EDA's reimbursement of the funds to the County when the LCEC repaid the loan to the EDA; 2) a note or some other instrument acceptable to the County Attorney by which the LCEC would agree to repay the loan to the EDA with a specific time table; and 3) the City of Charlottesville contributing or committing to contribute the other $130,000 required to make up the $260,000 shortfall.
By previous action, the Board and EDA have extending the due date for the loan on multiple occasions due to the LCEC's inability to repay the loan.
STRATEGIC PLAN: Goal 2: Prioritize, plan and invest in critical infrastructure that responds to past and future changes and improves the capacity to serve community needs and Goal 5: Provide lifelong learning opportunities for all our citizens.
DISCUSSION: Representatives of the LCEC Board have drafted a request of the Board (Attachment A) to assist them with the repayment of this loan. Sally Thomas, LCEC current Presiden...
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