TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: September 11, 2018
Title
A-GUIDE FUNDING AGREEMENT FY 2018-2019 - OLD SCHOOL SQUARE CENTER FOR THE ARTS, INC.
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Recommended Action:
Recommendation
Approve the A-GUIDE Funding Agreement with the Old School Square Center for the Arts, Inc. in the amount of $750,000 for Fiscal Year 2018-2019.
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Background:
Old School Square Center for the Arts, Inc. (“OSS”) applied for CRA A-GUIDE Funding for Economic Development and Recreation and Cultural Facilities in the amount of $500,000 for fiscal year 2018-2019. This represents 27% of the OSS’s Proposed Budget of $2,745,471.
At the August 27, 2018 CRA Board meeting, the Board considered the funding request from OSS. and supported funding in the amount of $500,000. During the budget process, it was identified that consistent with funding provided in FY 2017-18, additional funding was allocated for the A-GUIDE applicants in the amount the City provides to them annually, in order to further assist the City in addressing other needs. This funding will be utilized towards activities associated with the A-GUIDE programs. The portion of City funding that is being provided to OSS is $250,000 for a total amount of $750,000.
Attached is an agreement outlining OSS’s reporting and other responsibilities with regard to the requested funding provided. OSS will submit to the CRA Board, quarterly reports documenting the expenditure of funds and the progress towards the outcomes projected in the Goals and Outcomes Report and Budget for FY 2018-2019. Funds will be disbursed quarterly based on submittal of the associated quarterly reports. As discussed at the workshop, a stipulation has been included in the agreement that states that in addition to the quarterly program evaluation and financial reporting, with the second quarterly report, OSS shall also submit to the CRA a report...
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