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CONSIDERATION OF APPROVAL, REJECTION, AMENDMENT, AND/OR POSTPONEMENT OF CONTRACT K-2021-123: A CONTRACT BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND THE PERFORMING ARTS STUDIO IN THE AMOUNT OF $5,000 TO PROVIDE HOSPITALITY SERVICES TO THE GENERAL PUBLIC VISITING THE SANTA FE TRAIN DEPOT.
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BACKGROUND: During the budgeting process for fiscal year 2020-2021 (FYE 2021), a number of requests from non-profit agencies for General Fund budget allocations 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.
DISCUSSION: The FYE 2021 agreement which comes before Council at this time is the same basic form agreement for all agencies. The signed agreement provides that The Performing Arts Studio will provide hospitality services to the public at the Santa Fe Depot in exchange for a grant of $5,000 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 $5,000. The agreement also provides for cancellation by either party with thirty (30) days written notice 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.
The agreement also includes an automatic renewal provision [section E(5)], which provides that the agreement automatically renews annually provided that the Agency requests the same amount of funding each year and City Council appropriates sufficient funding in the budget.
RECOMMENDATION: Staff recommends that the funding agreement submitted herewith be approved. Funds in the amount of $5,000 should be disbursed from City Council-Contributions and Organizations (10110101-...
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