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Resolution 10-016 Funding for Greenacres Park Phase I CITY OF SPOKANE VALLEY SPOKANE COUNTY,WASHINGTON RESOLUTION NO. 10-016 A RESOLUTION OF THE CITY OF SPOKANE VALLEY, SPOKANE COUNTY, WASHINGTON, COMMITTING TO THE EXPENDITURE OF UP TO $1,088,888 IN LOCAL FUNDING FOR PHASE I CONSTRUCTION OF GREENACRES PARK CONTINGENT ON AVAILABILITY OF STATE MATCHING FUNDS, AND OTHER MATTERS RELATED THERETO. WHEREAS,the City of Spokane Valley,Washington is the owner of certain real property known as Greenacres Park. The park property is currently undeveloped, and the City desires to develop it as a community park; and WHEREAS,the anticipated cost for Phase I of Greenacres Park construction is$1,577,138; and WHEREAS, the City does not have sufficient funds available to pay for the entire cost of such park improvements;and WHEREAS,the State of Washington, Department of Public Works, has funds available for such construction work. A requirement of receiving any funds from the Washington State Department of Public Works is that the local jurisdiction demonstrate it has matching funds committed to the project; and WHEREAS, the Washington State Department of Community Trade and Economic Development (now the "Department of Commerce") previously awarded a grant in the amount of $296,250 for design and construction of Greenacres Park; and WHEREAS, in the event the State of Washington were to approve the City's current request for $200,000 in grant funding from the Department of Public Works, the remaining portion of funds needed to ensure full funding of Phase I design and construction would be$200,000; and WHEREAS, on July 20, 2010, a consensus of the City of Spokane Valley City Council stated support for this park construction project by committing an additional $200,000 from the City's civic facilities fund,for a total local match of up to$1,088,888; and WHEREAS,this Resolution provides a more formal commitment of the financial commitment of the City to the construction of Phase I of Greenacres Park, as requested by the Washington State Department of Public Works. This commitment by the City to local matching funds is contingent on being awarded the remaining $200,000 by the State of Washington Department of Public Works. In the event the State funds are not available for any reason, the City reserves the right to suspend this commitment of funds. NOW THEREFORE, be it resolved by the City Council of the City of Spokane Valley, Spokane County,Washington, as follows: Section 1. Commitment of Local Matching Funds for Construction of Phase I of Greenacres Park. The City Council of the City of Spokane Valley hereby commits to the expenditure Resolution 10-016,Greenacres Neighborhood Park Phase I Page 1 of 2 of up to $1,088,888 in City funds for the construction of Phase I of Greenacres Park. This commitment is conditioned on being awarded the remaining $200,000 by the State of Washington Department of Public Works. These funds are in addition to the $296,250 previously granted by Community Trade and Economic Development (now the "Department of Commerce"). In the event the State funds are not available for any reason,the City reserves the right to suspend this commitment of funds. Section 2. Authorization for City Manager to Execute Necessary Documents. The City Council of the City of Spokane Valley authorizes the City Manager or designee to execute any and all documents necessary thereto. Section 3. Effective Date. This Resolution shall be in full force and effect upon adoption. Adopted this 28`"day of September, 2010. CITY OF SPOKANE VALLEY Thomas E. Towey, Mayor rs- ATTES Christine Bainbridge, City Clerk Approved as to Form: Office of the City A rney Resolution 10-016,Greenacres Neighborhood Park Phase I Page 2 of 2