Title
Authorization for Execution of Restrictive Covenant between the Cade Museum Foundation Inc. and the City of Gainesville (B)
Explanation
The City of Gainesville is the title holder of the land located at 811 S Main St, Gainesville, FL 32601, which is leased by the Cade Museum for Creativity and Invention, managed and operated by the Cade Museum Foundation Inc. The Museum Foundation has been approved to receive a Cultural Facilities Grant in the amount of $199,706 from the State of Florida, Department of State, Division of Cultural Affairs. In order for the Museum Foundation to receive the Cultural Facilities Grant, the City of Gainesville needs to agree that the Foundation is allowed to run as a cultural facility and will continue to run as a cultural facility for 10 years following the execution of the grant award agreement. The foundation is currently the lessee of the land for 75 years.
The Cade Museum Foundation signed the agreement in February 2019. It has since been reviewed and approved by the legal department and it’s before the Commission today for authorization for the City Manager to execute the Agreement
Fiscal Note
None
Recommendation
To the City Commission: 1) Approve the restrictive covenant agreement 2) Authorize the City Manager to sign execute the agreement once approved by the City Attorney as to form and legality.
Backup
1) Restrictive Covenant