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CONTRACT K-1617-58: A CONTRACT BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND THE PERFORMING ARTS STUDIO IN THE AMOUNT OF $7,000 TO PROVIDE HOSPITALITY SERVICES TO THE GENERAL PUBLIC VISITING THE SANTA FE TRAIN DEPOT.
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BACKGROUND: During the budgeting process for FYE 2017, a number of requests were specifically reviewed, discussed and approved by Council. Pursuant to those discussions, funding agreements were prepared and submitted to the various agencies for their execution. One of those agencies is the Performing Arts Studio. Their funding agreement is now returned to Council for its approval.
DISCUSSION: The agreement which comes before Council at this time is the same basic form agreement for all agencies. The agreement provides that The Performing Arts Studio will provide hospitality services at the Santa Fe Depot in exchange for a grant of $7,000 of City funds. The agreement includes a reporting procedure by the agency to the Council of expenditures of the funds in an amount not to exceed $7,000. The agreement provides for cancellation by either party and specifically provides for cancellation and return of any unexpended funds should the agency fail to use the funds for the purpose for which they are intended or should the agency be dissolved or cease to exist any time during the contract period.
RECOMMENDATION: Based upon the above and foregoing background and discussion, it is staff’s recommendation that the funding agreement submitted herewith be approved. Funds should be disbursed from the following account to accomplish this: $7,000 from City Council - Contributions and Organizations (account 010-1001-411.47-41).