AGENDA CAPTION:
Title
Consider approval of Resolution 2018-153R, ratifying the acceptance of a grant award in the amount of $50,000 from the Jacob and Terese Hershey Foundation to be applied toward the second lease installment due to the Trust for Public Land under the Lease-Purchase Agreement for the Grady Early Tract; authorizing the City Manager or his designee to execute any and all documents as necessary to implement the grant award; and declaring an effective date.
Body
Meeting date: September 4, 2018
Department: PARD
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: The City Council approved a three-year lease purchase of the property with direction for staff to apply for grant funds to be applied toward the purchase price.
City Council Strategic Initiative: [Please select from the dropdown menu below]
City Facilities
Goal #9 Protect & Preserve San Marcos River and Edwards Aquifer Recharge Zone
Goal #2 Beautify & Enhance the Quality of Place
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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☐ Not Applicable
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Parks, Recreation, & Open Space Master Plan
Background Information:
In the fall of 2017, The City of San Marcos entered into a three year lease with The Trust for Public Land for the acquisition of Sink Creek (Early tract) in the amount of $1,270,000. The City made the first installment payment of $423,333 in 2017. City Council approved the lease-purchase agreement with the expectation that external funding sources would be sought to match the commitment of public funds.
The Trust for Public Land submitted a grant application to the Jacob and Terese Hershey Foundation for funding to assist the City of San Marcos in purchasing Sink Creek. The grant amount requested was $50,000 and would be used to offset the City’s second installment payment for the property.
The City received notification in June that we were awarded the grant from the Hershey Foundation.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
Staff recommends approval.