City of Gainesville - File #: 110050.

• File #: 110050.
• Version: 0
• Name: Resolution for the Termination of Agreement between the City of Gainesville and the Friends of Ring Park, Inc., and Termination of Agreement (B)
• Type: Resolution
• Status: Adopted
• File created: 7/7/2011
• In control: City Manager
• Final action: 7/7/2011
• Title: Resolution for the Termination of Agreement between the City of Gainesville and the Friends of Ring Park, Inc., and Termination of Agreement (B) This item involves a request for the City Commission to adopt the proposed resolution, which provides for termination of the March 24, 1998 agreement between the City of Gainesville and the Friends of Ring Park, Inc., and requests authorization for the City Manager to execute an Agreement of Termination with the Friends of Ring Park, Inc.

Date	Ver.	Action By	Action	Result
7/7/2011	0	City Commission	Adopted (Resolution) and Approved the Recommendation	Pass

Title
Resolution for the Termination of Agreement between the City of Gainesville and the Friends of Ring Park, Inc., and Termination of Agreement (B)

This item involves a request for the City Commission to adopt the proposed resolution, which provides for termination of the March 24, 1998 agreement between the City of Gainesville and the Friends of Ring Park, Inc., and requests authorization for the City Manager to execute an Agreement of Termination with the Friends of Ring Park, Inc.

Explanation
The Friends of Ring Park, Inc. wish to terminate the Agreement between the City of Gainesville and the Friends of Ring Park, Inc., which provided for the transfer and administration of the Ring Park Wildflower Garden Trust Fund to the Friends of Ring Park, Inc., and for the care and maintenance of the Ring Park Wildflower Garden by the Friends of Ring Park, Inc.

Staff has been working with the Ring family and Friends of Ring Park, Inc. for the past year to determine the best disposition of the available funds, resulting in the proposed resolution and Termination of Agreement. Based on the discussions with the Ring family and Friends of Ring Park, Inc., the Termination of Agreement stipulates that the funds be expended only for land acquisition, general park maintenance and/or general park improvements at Alfred A. Ring Park, which will assist in offsetting general fund expenses budgeted for these activities.

Fiscal Note
Should the City Commission adopt the proposed resolution and authorize the City Manager to execute the Termination of Agreement with the Friends of Ring Park, Inc., control of the Ring Park Wildflower Garden Trust Fund, currently comprised of $100,000 principal plus investment earnings will be liquidated and returned to the City, with the provision that the funds be expended only for land acquisition, general park maintenance and/or general park improvements at Alfred A. Ring Park.

Recommendation
The City Commission: 1) approve...