HomeMy WebLinkAboutURA RES 2007-08-2RESOLUTION NO.Z-COl-6~
A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL,IDAHO,APPROVING A TIME EXTENSION OF ONE YEAR AND
INCREASING AGENCY CONTRIBUTION BY $1,000,000 FOR FINANCING THE
CALDWELL FAMILY YMCA AND DEBT RELATED THERETO.
WHEREAS,the Urban Renewal Agency for the City of Caldwell,Idaho (the "Agency")has
previously authorized execution by the Agency of a Development,Ownership and Operation Agreement
(the "Agreement")with The Young Men's Christian Association of Boise City,Idaho (the "YMCA")in
order to cause the development and construction of certain public recreational facilities (the "Facilities")
in the City of Caldwell,Idaho;and
WHEREAS,the YMCA has constructed the Facility and is operating said facility as agreed;and
WHEREAS,the YMCA has requested additional financial assistance to complete the
construction campaign and satisfy all debt commitments associated with the construction of said facility;
NOW,THEREFORE,BE IT RESOLVED BY THE URBAN RENEWAL AGENCY OF
THE CITY OF CALDWELL,IDAHO:
Section 1:The Agency hereby approves and authorizes a time extension of one year and a pledge
increase of $1,000,000 to the Agency's Capital Campaign Pledge and further hereby authorizes the
Chairman,to execute an amendment to the original agreement.
Approved by the Board of the Agency this 31st day of December,2007
CHAIRMAN
ATTI
sBSlETARY