Loading...
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 : ?? Forbes Library was constructed in the early 1890s and constitutes a central and unique landmark of the city. ?? 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. ?? The building serves a broad public purpose, as a library, as a repository of historic documents, and as a center for community activities. ?? Support of this project meets the goals of both the Northampton Sustainability Plan and the CPA. ?? The project enjoys widespread public support. Conditions/contingencies attached to recommendation: ?? 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. ?? 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. ?? 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. ?? 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. ?? Procedures for monitoring and reporting shall be worked out among the Committee, Mayor and the grantee. Additional comments from committee : FV Motion