City Council Minutes 1982 03 02 - Laserfiche WebLink

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3/2/82 Page -6- Marvin Sparn - Pow Wow The Pow Wow Board had also submitted a letter for their request for funds. Mr. Sparn stated their Board had been under the impre.ssion they would receive some of the funds from this source - were led to believe the LDC would receive $25,000 and the Pow Wow \vould receive $52,000 for the constructi.on of water and sewer utilities to their site. Mayor Meier stated that he and councilmembers were unaware any amount of the funds were to be allocated to the Pow Wow, since it was not w-ritten into the Interchange Agree- ment. It was his suggestion, in the future, their Board re:ceive such a commitment in writing. Mayor Meier suggested that perhaps council not make a definite decision this evening as to the allocation of the funds. ~ouncilman Leary Motion for allocation of funds Complimented the people on their excellent presentations. Councilman Leary moved, Councilman Cussen seconded - in keeping with the intent of the Superior Interchange Agreement signed by City Council of Louisville, the dispersion of the initial award of $77,000 shall be as follows: 1) $52,00 shall be reserved for (a) The acquisition of open space as desig- nated in the City of Louisville's compre- hensive Plan and (b) The maintenance of open space owned by the City of Louisville. 2) $25,000 shall be reserved for the Louisville Development Corp. to be used for the downtown revitalization. The issuance of this grant shall be contigent upon the negotiation of a memorandum of agreement between the City of Louisville and the Louisville Development Corp. This agreement shall include, but shall not be restricted to, the following matters. (a) An explicit statement of the goals of LDC. (b) The manner in which the funds, along with other LDC resources, will be used to accomplish the goals of the LDC.