HomeMy WebLinkAboutcover memoNOV-08-2004 16:22
CITY OF MIAMI
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO ; Honorable Members of the
Miami {pity Commission
FROM
DATE :
SUN eCT ;
305 854 4001 P.01
November 5, 2004 FILE
Resolution Establishing the lien cf
air Parks Frat%at the Dade
GommunityFoundasion, Inc.
REFERENCES;
.ECOMMENDATION1
X would respectfully request that the members of the City Commission favorably consider the
adoption of the enclosed resolution authorizing the City Manager to execute an agreement with the
Dade Community Foundation ("Foundation"), The agreement authorized bythe attached resolution
will allow the City to establish the Heart cf arParks Fri ("Fund") at the Foundation, which will to
create a perpetual source of funding to support and maintain programs in the City of Miami's parks.
BACKGROUND:
Gereril Atrine
During the fiscal year 2002-2003 budget deliberations, ) set the goal of committing an additional $2.5
million over five (5) years to the Parks & Recreation Department ("Department") to support
additional after -school and summer programming. With your assistance, we have been able to
increase the Department's budget by $2 million for fiscal year 2004-2005 and set -aside $923,919 to
seed this Fund.
Over the course of the past year, my office, in conjunction with the Department, has been in
discussions with the Foundation regarding the establishment of the Fund. The Fund will provide a
perpetual foxit of revenue to support programming activities, The Foundation will hold, manage,
invest and reinvest the Fund exclusively for the general charitable purposes stipulated in the
agreement.
COWDEN'
The Fund shall be overseen by a council of three (3) members selected by the Mayor, City
Commission, and City Manager from a slate of six (6) individuals identified by the Foundation.
Council candidates shall be individuals with expertise in fundraising and/or a representative of
Fortune 500 corporations and will be limited to a term of two (2) years.
.Nfe s D& ;
Annually or bi-annually the Parks Director shall provide the council with a list of grant recipients and
which meet the criteria established in the agreement. At no time will the total annual, disbursement