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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 7 <br /> PROJECT TITLE: <br /> Consent COUNCIL BILL# <br /> Agreement between Greater X Action Originating Department Parks <br /> Everett Community First Reading Contact Person Susan Francisco <br /> Foundation and City of Everett Second Reading Phone Number Ext 8343 <br /> establishing the Everett Parks Third Reading FOR AGENDA OF Oct. 6, 2004 <br /> and Recreation Fund. Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President - %%1' <br /> Location Preceding Action Attachments Department(s)Approval <br /> Amount Budgeted -0- <br /> Expenditure Required -0- Account Number(s): <br /> Budget Remaining -0- <br /> Additional Required -0- <br /> DETAILED SUMMARY STATEMENT: <br /> In December 2003, the agreement between the City of Everett Parks Department and the Greater Everett <br /> Community Foundation (GECF) expired. The agreement has not been renewed, however, the GECF is still <br /> providing financial services to Parks by managing existing funds including, but not limited to the Permanent <br /> Endowment and other component funds such as the Joe Richer Memorial Golf Fund, Music in the Parks <br /> and Cinema under the Stars. A written agreement is required by the GECF to continue financial <br /> management of the funds. The GECF will be reimbursed 2% of any Park donations, contributions and gifts <br /> received by the GECF into non endowed Parks Fund. The agreement is similar to the agreement entered <br /> into between the City of Everett and the Greater Everett Community Foundation to establish the Everett <br /> Public Library Fund. <br /> RECOMMENDATION(Exact action requested of Council):Approve and authorize the Mayor to sign the <br /> agreement between the Greater Everett Community Foundation and the City of Everett establishing the <br /> Everett Parks and Recreation Fund. <br /> 23 <br />