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ofS�="Y_'S`Fre City of Sunny Isles Beach <br /> p r 2 18070 Collins Avenue <br /> - . , Sunny Isles Beach, Florida 33160 <br /> £`on`° S' (305)947-0606 City Hall <br /> et.' o. sun '�c (305)949-3113 Fax <br /> MEMORANDUM <br /> TO: The Honorable Mayor and City Commission <br /> VIA: Christopher J. Russo, City Manager <br /> FROM: Mina! Shah, Finance Director <br /> DATE: 5/16/2013 <br /> RE: Authority to Apply for a $500,000 Cultural Facilities Matching <br /> Grant and ensure funding of the $1,000,000 matching <br /> requirement. <br /> RECOMMENDATION: <br /> Staff is recommending the Commission authorize Staff to submit a $500,000 <br /> matching grant application for the purpose of developing an outdoor performance <br /> area in the Gateway Park project. <br /> REASONS: <br /> The City has an opportunity to apply for a Cultural Facilities Grant funded by the <br /> Florida Department of State through the Division of Cultural Affairs for the <br /> renovation, construction and acquisition of cultural and community facilities. The <br /> maximum grant award is $500,000 and requires a 2 to 1 match. Therefore, the <br /> City would be commissting to $1,000,000 of its own funds for matching purposes. <br /> Since the park and garage project is budgeted in excess of $16 million, the City <br /> will meet its matching requirements. In addition, the granting agency allows for a <br /> "look back" period, where the matching can come from City expenditures that <br /> occurred as far back as 5 years from the application date (June 15, 2013). <br /> If awarded, the grant expenditures ($500,000) must occur between July 1, 2014 <br /> and April 1, 2016 with the funds being encumbered by June 30, 2015. <br /> The City will be notified by July 2014 on award status. <br /> Agenda Item No.10F <br /> Date 5/16/2013 <br /> 97 <br />