AWARD Forbes Motion
Community Preservation Committee
Recommendation for Funding
Date:
March 19, 2008
Applicant:
Forbes Library
Amount of funding requested:
$1,603.465
Time-frame of request: 2008
Amount of funding recommended by CPC:
$1,000,000
Time-frame of funding recommended: $250,000 each year for 2008, 2009, 2010,
2011
Summary reasons for recommendation
:
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Forbes Library was constructed in the early 1890s and constitutes a central and unique
landmark of the city.
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Significant financial investment is necessary to complete the renovation and preservation
of the building already begun in past years, and to protect it for the future.
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The building serves a broad public purpose, as a library, as a repository of historic
documents, and as a center for community activities.
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Support of this project meets the goals of both the Northampton Sustainability Plan and
the CPA.
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The project enjoys widespread public support.
Conditions/contingencies attached to recommendation:
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Bonding or some other form of borrowing against these funds will be worked out with
the Mayor, the Finance Director, and the Forbes Trustees to their satisfaction.
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A structure for oversight and reporting regarding the specific uses of CPC funds will be
established to the satisfaction of the CPC, the Mayor, and the Forbes Trustees.
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Given that the CPC allocation comes from public funds, the information regarding their
use will be available to the public according to a process mutually agreed upon by the
CPC, the Mayor, and the Forbes Trustees.
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Prior to the dispersal of the funds, the Forbes Trustees will issue a report to the CPC and
the Mayor outlining a specific plan to raise the additional funds needed to complete the
project as it has been presented to the committee.
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Procedures for monitoring and reporting shall be worked out among the Committee,
Mayor and the grantee.
Additional comments from committee
:
FV Motion