Title
Charitable Donation to the City of Gainesville for Hogtown Creek Headwater Nature Park Development (B)
This item involves the City accepting a charitable donation from Home Depot U.S.A., Inc., and establishing a Trust account to be used for eligible improvements to the Hogtown Creek Headwaters Nature Park.
Explanation
On May 8, 2006, the City Commission approved a grant application to Florida Communities Trust (FCT) for the Hartman-Mackay Property (Hogtown Creek Headwaters) and authorized the City Manager to execute the grant application, grant agreements and other grant-related documents, if awarded.
On October 25, 2006, the City of Gainesville was notified that FCT approved the funding for the Hogtown Creek Headwaters project and provided the Grant Contract and Confidentiality Agreement for execution.
Home Depot, FCT and the City closed on the approximately 71-acre property (Hogtown Creek Headwaters Nature Park) on May 20, 2008.
Home Depot now wishes to make a charitable donation to the City in the form of $250,000 cash for the sole purpose of funding the proposed physical improvements, operations and management of the park as described in the Hogtown Creek Headwaters Nature Park Management Plan. The City will hold the $250,000 in a separate Trust account for the benefit of the park and shall have sole discretion in the timing and the manner in which the Trust Funds are dispersed.
Fiscal Note
None
Recommendation:
The City Commission: 1) accept the charitable contribution valued at approximately $250,000 cash; 2) authorize the City to establish a separate Trust account for the benefit of the park; and 3) authorize the City Manager to execute Internal Revenue Service and State of Florida tax credit forms for the charitable contribution and any documents necessary for accepting the charitable donation and establishing the Trust account; all subject to approval by the City Attorney as to form and legality.