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HomeMy WebLinkAbout~Master - Approving the Joint-Use Agreement Between the City of Ames and Iowa State University Regarding the New Ice Arena RESOLUTION NO. 99-193 RESOLUTION APPROVING THE JOINT-USE AGREEMENT BETWEEN THE CITY OF AMES AND IOWA STATE UNIVERSITY REGARDING THE NEW ICE ARENA FOR THE CITY OF AMES,IOWA WHEREAS,the ice arena facility will be under the sole management/governance ofthe City ofAmes(City);and, WHEREAS,the City will administer all construction contracts for capital improvements once the building is first opened; and, WHEREAS,the operating costs of the new facility will be paid for solely out of the revenue of the facility;and, WHEREAS,if the expenditures exceed the revenues for any year where there is an insufficient fund balance,the City has the ability to close the arena;and, WHEREAS,both parties will continue to pay$20,000 each year into a Capital Reserve Fund to fund mutually agreed upon capital improvements(repair or improvement costing more than$10,000)and the parties will share equally in the cost of these improvements; and, WHEREAS,either party may purchase movable equipment for its own special use which will not be considered to be owned jointly;and, WHEREAS,if a decision is made to close the facility on or before June 30th following the day the facility was opened to the public,the University will gain sole ownership of the building and pay the City an amount equal to 1/30 of 45.9%of the actual cost of construction of the facility times the number of years remaining in the 30-year period;and, WHEREAS, if a decision is made to close the facility after the June 30th following the day the facility was opened to the public,the Joint-Use Agreement can be extended by mutual consent or the ownership of the building will pass to the University after the City has been paid one-half the value of the building has determined by an independent appraiser or the ownership of the building will pass to the City after the University has been paid one-half of the value of the building as determined by an independent appraiser; and, WHEREAS,the City of Ames and Iowa State University will jointly carry general liability and property/boiler- machinery insurance. NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Ames, Iowa,that the Joint-Use Agreement between the City of Ames and Iowa State University is hereby approved as attached hereto and made a part hereof by this reference. ADOPTED THIS 25th day of May, 1999. Diane R. Voss, City Clerk Ted Tedesco, Mayor Introduced by: Parks Seconded by: Wirth Voting aye: Campbell,Cross,Hoffman,Parks,Quirmbach,Wirth Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 25th day of May, 1999.