2022 09 RESOLUTION - Laserfiche WebLink

Home Browse Search

DocuSign Envelope ID: 1C143D5F-BE9C-4E34-9F91-5A3C3FB05EE8 2.2 Project Description The Project Sponsor plans to use the grant for ADA -compliant restroom upgrades at the Facility. The construction project will be known herein as the Cultural Project for the purposes of this agreement. This project supports culture through the presentation of the musical and dramatic arts. 3. Financial Considerations 3.1 Grant Amount The 133rd General Assembly of the State of Ohio (General Assembly) in S.B. 310 designated $100,000 of the funds in ALI C230FM to the Commission to finance all or a portion of the capital facilities costs associated with the Cultural Project. The Commission agrees to provide a grant of $100,000 (Grant Amount) to the Project Sponsor. 3.2 Appropriation Intent The funds under this Agreement shall be used by the Project Sponsor for capital improvements that meet the intent and purpose of the appropriation and the limitations on use set forth in the bill appropriating the funds. To the extent such costs exceed the funds appropriated, the Project Sponsor will be required to pay the difference. Additionally, the funds shall be used only for construction, as defined in ORC Section 123.28(K). 3.3 Fiscal Management of Project The Project Sponsor is responsible for the financial management of the Cultural Project. The Project Sponsor will comply with, or cause compliance with, all appropriate accounting and budgeting procedures in accordance with generally accepted accounting principles, consistently applied. 3.4 Project Budget The total cost of the project described above is estimated to be $365,880 (Project Budget), including but not limited to design, construction, land acquisition, environmental assessment and remediation, exhibits, furniture, fixtures, equipment, construction management and other professional service fees, legal fees, marketing, start-up operations, operating endowments, utilities and other start-up costs, insurance, performance or payment bonds, taxes, and permits. 3.5 Local Match In accordance with ORC Section 123-281 (13)(2), the Project Sponsor shall have local contributions amounting to not less than fifty (50) percent of the Grant Amount for the Cultural Project (Local Match). 3.6 Local Share The Local Share shall be an amount equal to the total costs of the Project Budget less the Grant Amount. Page 3 of 15