HomeMy WebLinkAboutGrace Hudson Museum Endowment Fund 2011-02-16 ; Amendment 1 2015-02- (unsigned) CROSS REFAttachment 2
AMENDMENT NO. 1
TO
MEMORANDUM OF UNDERSTANDING BETWEEN
GRACE HUDSON MUSEUM ENDOWMENT FUND,
INC. AND CITY OF UKIAH, AND UKIAH
REDEVELOPMENT AGENCY
This agreement amends the Memorandum of Understanding between
Grace Hudson Museum Endowment Fund, Inc. ("Fund") and City of Ukiah ("City"), and
the former Ukiah Redevelopment Agency ("Agency") dated February 16, 2011 ("MOU").
The parties to this Amendment to the MOU are the Fund and the City, acting both in its
capacity as a party to the MOU and as the Successor to the Agency pursuant to Health
and Safety Code Section 34176. This is the first amendment to the MOU and is entered
in Ukiah, California, on February , 2015. Except as expressly amended by this
agreement, the MOU is not changed and remains in full force and effect between the
Parties, as it read on February 16, 2011.
Section 1.b. in Section 1 is amended to read as follows:
1.b. The Fund shall invest the funds using prudent investment practices with the
primary goal to preserve principal and with the secondary goal of earning a
reasonable rate of return. The principal may be used to acquire vehicular access
to Clay Street and/or Cleveland Lane from the Museum property or for other
Museum -related projects or needs as determined appropriate by the Fund. The
investment returns may be used to support the Museum. The Fund shall
replenish the account from other revenues available to the Fund for any
withdrawals from the account which do not comply with this subparagraph 1.b.
Section 2. is amended to read as follows:
2. In developing Parcels 15 and 29 and other adjacent property on Cleveland Lane
owned by the City (collectively, "the Property") for low income housing, the City
shall assure that the Sun House Guild and the Fund have the opportunity to
participate and advise the City on ways to make the site plan and use of the
Property compatible with the Museum facility and function. If the City purchases
contiguous property not already owned by the City as of the date of this
amendment, the City shall work with the Guild and Endowment Fund to develop
shared vehicular access to Cleveland Lane and/or Clay Street from the Museum
property.
IN WITNESS WHEREOF, the Fund, City and the Agency have executed this
Agreement as of the day and year first above written.
Approved as to form:
David Rapport
City Attorney
Grace Hudson Endowment Fund
By:
Name:
Title:
City of Ukiah/House Entity
By:
Name: Jane Chambers
Title: City Manager
Attachment 2