Title
Approve a Memorandum of Understanding between the City of Foley; PCEFCD; PASFCD; Foley Hotel One LLC; Foley Hotel Two LLC; BC Foley LLC; and CIEDA (Creek Indian Enterprises Development Authority
Summary
Description of Topic: (who, what, where, when, why and how much)
The MOU is the agreement between the City of Foley, The PCEFCD (The Public Cultural and Entertainment Facilities Cooperative District of the City of Foley, Alabama), the PASFCD (The Public Athletic and Sports Facilities Cooperative District), Foley Hotel One LLC, Foley Hotel Two LLC, BC Foley, LLC and CIEDA (Creek Indian Enterprises Development Authority) that has been in the works for a while.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
Body
WHEREAS, The City of Foley Public Athletic and Sports Facilities Cooperative District has received a Memorandum of Understanding by and between the City of Foley, The PCEFCD (The Public Cultural and Entertainment Facilities Cooperative District of the City of Foley, Alabama), the PASFCD (The Public Athletic and Sports Facilities Cooperative District), Foley Hotel One LLC, Foley Hotel Two LLC, BC Foley, LLC and CIEDA (Creek Indian Enterprises Development Authority).
NOW THEREFORE BE IT RESOLVED that the Public Athletic and Sports Facilities Cooperative District of the City of Foley, Alabama, as follows:
SECTION 1: Approves entering into an MOU and authorizes the Chairman to sign the MOU on behalf of the The Public Athletic and Sports Facilities Cooperative District (a/k/a PASFCD). The MOU is attached and is made a permanent part of this resolution upon adoption.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.