HomeMy WebLinkAbout76-16 RESOLUTION113 West Mountain
Street Fayetteville,
AR 72701
(479) 575-8323
Resolution: 76-16
File Number: 2016-0149
WALTON FAMILY FOUNDATION AGREEMENT CATO SPRINGS TRAIL:
A RESOLUTION TO EXPRESS THE CITY COUNCIL'S THANKS AND GRATITUDE TO THE
WALTON ,FAMILY FOUNDATION FOR ITS GENEROUS $2,000,000.00 MATCHING GRANT FOR THE
CONSTRUCTION OF THE CATO SPRINGS TRAIL FROM THE TOWN BRANCH TRAIL TO THE
REGIONAL PARK, TO APPROVE THE GRANT AGREEMENT AND TO APPROVE A BUDGET
ADJUSTMENT TO RECOGNIZE THIS $2,000,000.00 GRANT
WHEREAS, the Walton Family Foundation has proven to be a strong supporter of Fayetteville's trail systems
including the Mount Kessler acquisition; and
WHEREAS, the Walton Family Foundation as offered a 50150 grant in the amount of $2,000,000.00 for the
construction of the Cato Springs Trail which will connect the City's existing trail system to the new Regional
Park and Mount Kessler.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas hereby than and expresses its gratitude to
the Walton Family Foundation for its generous 2,000,000.00 matching grant for the construction of the Cato
Springs Trail from the Town Branch Trail to the Regional Park, approves the attached Grant Agreement,
authorizes Mayor Jordan to sign this Grant Agreement, and agrees to match the grant using the Trail
Development Capital Improvement Program.
Section 2. That the City Council of the City of Fayetteville, Arkansas hereby approves the budget adjustment
attached to this Resolution.
Page 1 Printed on 416116
File Number: 2016-0149
Resolution: 76-16
PASSED and APPROVED on 4/5/2016
Attest:
Page 2
Sondra E. Smith, City Cleric
Treasureru.rE.rss
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Printed on 416116
City of Fayetteville, Arkansas 113 West Mountain Street
j Fayetteville, AR 72701
(479) 575-8323
Text File
File Number: 2016-0149
Agenda Date: 4/5/2016 Version: 1 Status: Passed
In Control: City Council Meeting File Type: Resolution
Agenda Number: C. 2
WALTON FAMILY FOUNDATION AGREEMENT - CATO SPRINGS TRAIL:
A RESOLUTION TO EXPRESS THE CITY COUNCIL'S THANKS AND GRATITUDE TO THE
WALTON FAMILY FOUNDATION FOR ITS GENEROUS $2,000,000.00 MATCHING GRANT
FOR THE CONSTRUCTION OF THE CATO SPRINGS TRAIL FROM THE TOWN BRANCH
TRAIL TO THE REGIONAL PARK, TO APPROVE THE GRANT AGREEMENT AND TO
APPROVE A BUDGET ADJUSTMENT TO RECOGNIZE THIS $2,000,000.00 GRANT
WHEREAS, the Walton Family Foundation has proven to be a strong supporter of Fayetteville's trail
systems including the Mount Kessler acquisition; and
WHEREAS, the Walton Family Foundation has offered a 50150 grant in the amount of $2,000,000.00
for the construction of the Cato Springs Trail which will connect the City's existing trail system to the
new Regional Park and Mount Kessler.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas hereby thanks and expresses its
gratitude to the Walton Family Foundation for its generous $2,000,000.00 matching grant for the
construction of the Cato Springs Trail from the Town Branch Trail to the Regional Park, approves the
attached Grant Agreement, authorizes Mayor Jordan to sign this Grant Agreement, and agrees to match
the grant using the Trail Development Capital Improvement Program.
Section 2. That the City Council of the City of Fayetteville, Arkansas hereby approves the budget
adjustment attached to this Resolution.
City of Fayetteville, Arkansas Page 1 Printed on 41612016
City of Fayetteville Staff Review Form
2015-0149
Legistar File ID
4/5/2016
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
Matt Mihalevich 3/17/2016 Engineering /
Development Services Department
Submitted By Submitted Date Division / Department
Action Recommendation:
Staff recommends approval of grant agreement #2015-1250 with the Walton Family Foundation in the amount of
$2,000,000 and approval of a budget adjustment to recognize this revenue. The grant funds will be used for the
construction of the Cato Springs Trail from the Town Branch Trail to the Regional Park.
Budget Impact:
4470.9470.5814.05
Sales Tax Capital Improvements
Account Number
Fund
Trail Development
02016.1405
Cato Springs Trail
Project Number
Project Title
Budgeted Item? Yes
Current Budget $ 3,694,698.00
Funds Obligated $ 900,844.97
Current Balance $ 2,793,853,03
Does item have a cost? No
Item Cost
Budget Adjustment Attached? Yes
Budget Adjustment $ 2,000,000.00
Remaining Budget 4,1. �; u:3.03
V20140610
Previous Ordinance or Resolution #
Original Contract Number: Approval Date:
Comments: