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GRANT AGREEMENT <br />(1999 Festival of Lights) <br /> <br />THIS GRANT AGREEMENT is made and entered into this 19th day of October, <br />1999, by and between the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a <br />public entity ("Grantor") and THE GREATER RIVERSIDE CHAMBERS OF COMMERCE <br />CGrantee"), and is made with reference to the following facts: <br /> <br /> RECITALS <br /> <br /> A. The Grantor is a public entity organized in accordance with the Community <br />Redevelopment Law as contained in California Health and Safety Code Sections 33000, et seq. <br />Pursuant thereto, Grantor is authorized to undertake and support projects within designated areas of <br />the City of Riverside which foster the elimination of blighted conditions and encourage the economic <br />well-being of such areas. Through the Main Street Improvement Project, Grantor has coordinated <br />the construction of various improvements along the Main Street Mall in order to enhance its <br />appearance and retail/business viability. <br /> <br /> B. Grantee is an organization which promotes the development of the downtown area of the <br />City of Riverside. Grantee is participating in the sponsorship of a "Festival of Lights," which is <br />intended to encourage an increased public presence and shopping within the downtown Riverside <br />area during the 1999 holiday season. <br /> <br /> C. Grantee has sought, and upon the terms and conditions described herein, Grantor is <br /> <br />willing to provide, funding for certain costs associated with the 1999 Festival of Lights. <br /> The parties, therefore, agree as follows: <br /> <br /> 1. Grant and Use of Funds. Grantor agrees to provide a grant to Grantee in an amount <br /> <br /> <br />