Title
Action on Resolution 21-006, a Resolution Authorizing Loan Agreement with Friends of Baseball, Inc., for Reimbursement of Bob Shelden Field Turf.
Body
Summary:
This resolution provides for the execution of a promissory note between the Friends of Baseball organization and the City of Brookings. The promissory note formalizes the letter of financial commitment provided to the City by the Friends of Baseball related to the payment for the synthetic field infield turf installed during the Bob Shelden Ballfield Complex Revitalization project.
Background:
As a part of the Bob Shelden Ballfield Complex Revitalization project the Friends of Baseball organization agreed to fund the installation and ongoing replacement of the synthetic field turf in the infield of Bob Shelden Field. The price of the field turf alternate within the project bid documents was $223,000. Prior to the beginning of the project Friends of Baseball provided a letter of financial commitment to the City for the amount of the cost of the turf.
Recommendation
Recommendation:
Staff recommends approval.
Body2
Attachments:
Memo
Resolution
Promissory Note