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1 GRANT AGREEMENT 2 3 (Festival of Lights) 4 THIS GRANT AGREEMENT is made and entered into this 25th day of November, 1997, by 5 and between the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a public entity 6 ("Grantor") and the ARLINGTON DIVISION OF THE GREATER RIVERSIDE CHAMBERS OF 7 COMMERCE ("Grantee"), and is made with reference to the following facts: 8 RECITALS 9 A. The Grantor is a public entity organized in accordance with the Community Redevelopment 10 Law as contained in California Health and Safety Code Sections 33000, et seq. Pursuant thereto, 11 Grantor is authorized to undertake and support projects within designated areas of the City of Riverside 12 which foster the elimination of blighted conditions and encourage the economic well-being of such 13 areas. Grantor has coordinated various improvements within the Arlington Area Business Improvement 14 in order to enhance its appearance and retail/business viability. 15 B. Grantee is an organization which promotes the development of the retail area in the City of 16 Riverside. Grantee is participating in a 1997 "Festival of Lights," which is intended to encourage an 17 increased public presence and shopping within the retail areas during the 1997 holiday season. 18 C. Grantee has sought, and upon the terms and conditions described herein, Grantor is willing 19 to provide, funding for certain costs associated with the 1997 Festival of Lights. 20 The parties, therefore, agree as follows: 21 1. Grant and Use of Matching Funds. Grantor agrees to provide a matching funds grant to 22 Grantee in an amount not to exceed two thousand four hundred twenty one dollars ($2,421.00). Such 23 funds will be provided to Grantee upon written confirmation by Grantee that a like amount of funds are 24 reserved and available for the "97 Festival of Lights" project. Such funds will be used fully and 25 exclusively for the placement and removal of decorative lights. Grantor reserves the right to, at any 26 time, withhold the balance of said grant if the use of funds is found to be substantially out of compliance 27 with the purpose of this Grant Agreement. Attorney's Office Street CA 92522 782-5567