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File #: 21-1089    Version: 1 Name:
Type: Minute Order Status: Action Item
File created: 6/6/2021 In control: City Council Meeting Agenda
On agenda: 6/28/2021 Final action:
Title: CC - (1) Discussion and Direction Regarding the Outstanding Loan Provided to Culver City Arts Foundation; and (2) Authorization to Amend the Existing Memorandum of Understanding and Loan Documents Based on City Council's Direction
Attachments: 1. 21-06-14_ATT No. 1_2019 Memorandum of Understanding Between the City of Culver City and Culver City Arts Foundation, 2. 21-06-14_ATT No. 2_Letter from Culver City Arts Foundation, 3. 21-06-14_ATT No. 3_Culver City Arts Foundation Funding Summary, 4. 21-06-14_ATT No. 4_Culver City Arts Foundation 20-21 Budget, 5. 21-06-14_ATT No. 5_Culver City Arts Foundation Treasurer’s Report as of June 1, 2021
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CC - (1) Discussion and Direction Regarding the Outstanding Loan Provided to Culver City Arts Foundation; and (2) Authorization to Amend the Existing Memorandum of Understanding and Loan Documents Based on City Council's Direction

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Meeting Date: June 28, 2021

Contact Person/Dept: B. Christine Byers / Administrative Services - Cultural Affairs
Phone Number: (310) 253-6003

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 (06/23/2021); (E-Mail) Culver City Arts Foundation (06/23/2021)

Department Approval: Serena Wright-Black, Assistant City Manager (06/06/21)
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RECOMMENDATION

Staff recommends the City Council (1) discuss and provide direction on the outstanding loan provided to Culver City Arts Foundation; and (2) authorize an amendment to the existing Memorandum of Understanding and loan documents based on City Council's direction.


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).

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 ...

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