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11 <br /> THE CITY OF <br /> ® ° -•• ° _=� CITY COUNCIL AGENDA REPORT <br /> pLEASANTON <br /> May 3, 2022 <br /> City Manager <br /> TITLE: APPROVE GRANT AGREEMENT FOR $50,000 WITH THREE <br /> VALLEYS COMMUNITY FOUNDATION <br /> SUMMARY <br /> At its January 18, 2022, meeting the City Council directed staff to bring forward for <br /> Council consideration, a request for one-time funding support of $50,000, based on a <br /> January 10, 2022, letter from the Three Valleys Community Foundation (3VCF) to the <br /> City Council. <br /> RECOMMENDATION <br /> Approve the requested funding for the Three Valleys Community Foundation with a one- <br /> time allocation totaling $50,000, to be paid to 3VCF over three years. <br /> FINANCIAL STATEMENT <br /> Under the grant agreement, the City will provide the Three Valleys Community <br /> Foundation financial support of$50,000 in three equal annual installments. Funding for <br /> this agreement in the first year is available from Fiscal Year 2021-22 General Fund <br /> contingency. The two future year's payments will be budgeted as a part of the upcoming <br /> Fiscal Years 2022-23 and 2023-24 budget process. <br />