HomeMy WebLinkAbout12/07/2011 6B AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Renewal of Annual Funding Study Session Date lali q11 I
Commitment to Admiral Theatre Foundation COUNCIL MEETING Date 1. IZ/ I
Department Financial Services'
Presenter Becky Hasart
Phone 473 -5722
SUMMARY: The City entered into a First Addendum to Operating Agreement with the Admiral
Theatre Foundation in December of 2001 for the purposes of providing ongoing funding for the
operations of the Admiral Theatre and to clarify the conditions under which the continuation of
funding support would be provided Provisions in this agreement call for the City Council to renew its
commitment to the $90,000 /year fund amount every three years throughout the term of the contract
The agreement anticipates that the commitment will be renewed so long as the Foundation has used
the funds in the manner anticipated and met the ongoing requirements of the contract The three
year review was missed in 2010 but has been concluded in 2011 and is being presented during the
Council's consideration of the 2012 budget It is the recommendation of the Director of Financial
Services that the City Council renew its commitment of the current funding amount of $90,000 per
year
ATTACHMENTS: Explanatory Memo and reports from the City's Internal Auditor and Facilities
Maintenance department ax-,& r � s \O ����
FISCAL IMPACTS (Include Budgeted Amount) Ongoing commitment of $90,000 per year from the
City's collected hotel /motel tax This amount is included in the 2012 proposed budget
APPROVALS:
DEPARTMENT DIRECTOR
CITY ATTORNEY
FINANCE DIRECTOR
MAYOR
RECOMMENDED MOTION: Move to renew the City of Bremerton's commitment to the Admiral
Theatre Foundation per Operating Agreement and First Addendum to Operating Agreement
(Agreements) subject to the proposed amendments and authorize the City Attorney to amend the
Agreements consistent with the proposed language and further authorize the Mayor to execute the
same
STUDY SESSION ACTION: ❑ Consent Agenda General Business ❑ Public Hearing
COUNCIL PRESIDENT
COUNCIL ACTION: iApprove ❑ Deny ❑ Table ❑ Continue ❑ No Action
Forth Updated 11/02/2011