AGENDA #4j
|
to: |
Mayor and Town Council |
|
from: |
Roger L. Stancil, Town Manager |
|
subject: |
Budget Amendment Establishing Public Art Revenue for Lot 5 Development |
|
date: |
September 24, 2007 |
The purpose of this report is to budget revenue to be received from Ram Development Company for an initial artist contract with Mikyoung Kim for preliminary design services for Lot 5 in the amount of $29,000.
On June 27, 2007, the Council authorized the Manager to negotiate and execute a contract for public art design services with Mikyoung Kim for the Lot 5 Downtown Economic Development Initiative (see Attachment 1).
The initial contract with Mikyoung Kim is for revision of the Art Master Plan (to reflect the revisions to the project since 2006), preliminary design, and for selection of additional artist or artists for the public art commissions. The contract amount is $29,000. Ram Development Company is responsible for paying this amount as part of its commitment to providing 1% for public art in the Lot 5 project, and has agreed to fund this contract (please see letter in Attachment 2). The contract calls for the Town to make payments, and for Ram to reimburse the Town within 30 days.
We recommend the Council enact the attached amendment to the project ordinance budget established for the project.
1. Memorandum to Council of June 27, 2007 regarding Public Artist Contract (p. 4).
2. Letter of September 18, 2007 from Ram Development Company (p. 7).