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File #: 21-147    Version: 1 Name:
Type: Minute Order Status: Action Item
File created: 8/5/2020 In control: City Council Meeting Agenda
On agenda: 8/10/2020 Final action:
Title: CC - (1) Discussion Regarding the Outstanding Loan Provided to Culver City Arts Foundation; and (2) Direction to the City Manager as Deemed Appropriate.
Attachments: 1. 20-08-10_ATT No. 1_Memorandum of Understanding Between the City of Culver City and Culver City Arts Foundation.pdf, 2. 20-08-10_ATT No. 2_Letter from Culver City Arts Foundation.pdf, 3. 20-08-10_ATT No. 3_Culver City Arts Foundation July 14 2020 Treasurer's Report.pdf, 4. 20-08-10_ATT No. 3a_Culver City Arts Foundation Treasurer Report.pdf
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CC - (1) Discussion Regarding the Outstanding Loan Provided to Culver City Arts Foundation; and (2) Direction to the City Manager as Deemed Appropriate.

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Contact Person/Dept: Serena Wright-Black/Administrative Services

Phone Number: (310) 253-5640

Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []

Public Hearing: [] Action Item: [X] Attachments: Yes [X] No []

Commission Action Required: Yes [] No [X]

Public Notification: (E-Mail) Meetings and Agendas - City Council (08/xx/20); (E-Mail) Culver City Arts Foundation (08/xx/20)

Department Approval: Serena Wright-Black, Assistant City Manager (08/04/20)
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RECOMMENDATION

Staff recommends the City Council (1) discuss the outstanding loan provided to Culver City Arts Foundation; (2) provide direction to the City Manager as deemed appropriate.


BACKGROUND

The Culver City Arts Foundation ("CCAF") was established in 2006 as a 501 (c) (3) nonprofit public benefit corporation. The Articles of Incorporation were filed with the Secretary of State on September 26, 2006.

In 2016 City Council formed an Ad Hoc Subcommittee for the purpose of revising the structure of the CCAF with the goal of allowing it to function independently from the City. The City Council took action in March 2018 to separate the CCAF from the City. The Bylaws were amended and a new Memorandum of Understanding ("MOU") between the City and the CCAF was adopted. A revised MOU was subsequently adopted on June 24, 2019 (Attachment 1).


DISCUSSION

The MOU adopted by City Council in March 2018 included a provision in which City Council authorized $35,000 seed money be loaned to CCAF and repaid on or before June 30. 2019. On June 24, 2019 City Council extended the repayment terms. Specifically, Section 3.A. of the MOU was revised as follows,

"SECTION 3. PAYMENT.
A. For Fiscal Year 2017-...

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