Laserfiche WebLink
Attachment 3 <br /> SPORTS COMPLEX SPONSOR AGREEMENT <br /> THIS SPORTS COMPLEX SPONSOR AGREEMENT("Agreement")is entered into <br /> April 1,2022("Effective Date")between Lucile Salter Packard Children's Hospital at Stanford, <br /> a California nonprofit public benefit corporation("Sports Complex Sponsor")and the City of <br /> Pleasanton,a municipal corporation("City"). <br /> Recitals <br /> A. City constructed the 16-acre Bernal Community Park,Phase II,Multi-purpose <br /> Lighted Sports Field("Sports Complex")that has three lighted multi-purpose <br /> sports fields with synthetic turf,parking lots,a children's play area, equipment <br /> storage and a restroom, such that the facility is available for year-round play <br /> as part of the City's Bernal Community Park,located at 7001 Pleasanton <br /> Avenue,Pleasanton,CA 94566. <br /> B. Due to the complexity,size and cost of the Sports Complex, City and various <br /> sports groups in the community have entered into a Memorandum of <br /> Understanding("MOU")dated December 2,2014,by which these sports <br /> groups("Sports Groups"as identified in the MOU)and the City have agreed <br /> to work collaboratively to obtain private funds to assure the Sports Complex <br /> would be constructed in a timely manner for the overall benefit of the <br /> community. <br /> C. As provided in the MOU,the Sports Groups have agreed to conduct a <br /> fundraising campaign to raise private funds to be applied to assist in offsetting <br /> the construction cost of the Sports Complex. <br /> D. As part of that effort, Sports Groups have contacted Sports Complex Sponsor <br /> to solicit its financial support. <br /> E. Sports Complex Sponsor is willing to provide financial support to assist in <br /> offsetting the construction cost of the Sports Complex on the terms and <br /> conditions set forth herein. <br /> F. City is willing to accept the financial support from Sports Complex Sponsor <br /> on the terms and conditions set forth herein. <br /> NOW,THEREFORE,in consideration of the mutual promises set <br /> forth in this Agreement,the parties agree as follows: <br /> 1. Contributions. As its contributions to the Sports Complex, <br /> Sports Complex Sponsor shall pay to the City the sum of <br /> $177,500, in installments as follows: the first installment in the <br /> amount of$25,358 on April 1,2022;the second installment in <br /> the amount of$25,357 on April 1,2023; the third installment <br /> in the amount of$25,357 on April 1,2024; the fourth <br /> installment in the amount of$25,357 on April 1,2025;the fifth <br /> installment in the amount of$25,357 on April 1,2026;the <br /> sixth installment in the amount of$25,357 on April 1,2027; <br /> and the seventh and final installment in the amount of$25,357 <br /> on April 1, 2028,unless this agreement is terminated earlier. <br /> These contributions provide Sports Complex Sponsor with a <br /> 1 <br />