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ATTACHMENT 1 1. Fundraising Campaign and City Assistance 1. The City will actively pursue the development of Bernal Community Park, Phase II and the Oak Woodland A. The City's current schedule anticipates circulating a request for construction bids in fall 2014, commencement of construction in spring 2015, and park opening in fall 2016. While proceeds from fundraising are necessary component of project funding, the City is prepared to award the construction contract utilizing internal loans from various City financial resources. The loan will be repaid from funds generated from by the Sports Groups fundraising effort and, if necessary, from user fees as detailed later in this MOU. 2. The City Will assist the Sports Groups in facilitation of the Fundraising Campaign as specified herein. 3. The purpose of the fundraising campaign is to raise an estimated $1.88 million in private funds to be donated to the City to offset costs related to developing Bernal Community Park, Phase II. The $1,880,000 is based upon the difference, or gap, between the City's commitment to allocate $10,675,000 toward the development of the Bernal Community Park, Phase II and the estimated project cost of $12,559,000. (Including the Oak Woodland, total project cost is estimated at $16,500,000) Because the project cost is based on the project architect's estimate, the final construction bids may impact the actual cost of the project resulting in a gap that is more or less than the estimated $1.88 million. If the project cost is more or less than the estimated $12,559,000, the City will adjust the fundraising goal accordingly. Notwithstanding final project cost, the total fundraising commitment from the Sports Groups will not exceed $2 million. 4. The scope and terms of the fundraising campaign, including terms and conditions for donor name recognition and sponsorship (including naming policies containing guidelines) shall be as specified herein. 5. Gifts to the City are considered charitable contributions and are tax deductible so long as the gift is entirely for public purposes. As such, the City will provide the Sports Groups, for delivery to qualified donors, the appropriate documentation specifying that its tax exempt status. 6. The fund raising campaign will include donations and major sponsorships that allow for various forms of name recognition. Donations provide name recognition that would include a size appropriate display of the donor's name and if requested, the words "in memory of" for the life of a specific item such as a bench, table, bleacher, play equipment, etc. Major sponsorship recognition is anticipated for larger contributions and will include name recognition for a specific period of time on highly visible items such as the score board, field entrances, field names, etc. -2- November 18, 2014