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<br />e <br /> <br />e <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: <br /> <br />March 28, 1994 <br /> <br />Requested By: Buddv Jacobs <br />Report <br /> <br />Department: <br />Resolution XXX <br /> <br />Parks & Rec <br />Ordinance <br /> <br />Exhibits: 1. Ordinance No. <br />2. Agreement between City of La Porte and La Porte <br />Livestock & Rodeo Association <br /> <br />SUMMARY & RECOMMENDATION <br />The La Porte Livestock Show & Rodeo Association approached the <br />City Administration concerning the possibility of a joint venture <br />between the two entities to construct a cover over the Rodeo Arena. <br />The Association was willing to finance one-half of the cost of the <br />cover with the City financing the remainder. <br />The Agreement between the City of La Porte and the Association <br />formalizes the financial arrangements and, for its contribution to <br />the cost of the arena, the Association receives thirty (30) days <br />use of the arena at no cost. The Association purchased the arena <br />fencing and agrees to allow the use of the fencing by the general <br />public and for private rentals. <br />The City will maintain the grounds and arena cover. The <br />Association agrees to maintain all fencing and pens. The City will <br />manage all operations, rentals, and reservations of the facility. <br />The Association agrees to pay $10,000.00 annually to the City <br />until the arena construction costs are repaid. The Agreement is <br />for a period of thirty (30) years. Should the Association default <br />on its payment, a written notice will be sent. The Agreement is <br />null and void should the Association fail to make restitution <br />within 30 days. <br />Staff recommends approval of the Agreement between the City of <br />La Porte and the La Porte Livestock Show & Rodeo Association. <br /> <br />Action Required by Council: <br />Approve the Agreement with the La Porte Livestock Show & Rodeo <br />Association for the financing and use of the La Porte Livestock/ <br />Rodeo Arena. <br /> <br />Availability of Funds: <br /> <br />General Fund <br />Capital Improvement <br />Other <br /> <br />Water/Wastewater <br />General Revenue Sharing <br /> <br />Account Number: Funds Available: <br />Approved for City Council Aqenda <br /> <br />YES <br /> <br />NO <br /> <br />G?~ T. ~ <br />Robert T. Herrera <br />City Manager <br /> <br />'3. 'Z3.qLJ. <br />Date <br />