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1 <br /> GRANT AGREEMENT <br /> 2 <br /> (Festival of Lights) <br /> 3 <br /> 4 THIS GRANT AGREEMENT is made and entered into this 28th day of October, 1997, by <br /> 5 and between the REDEVELOPMENT AGENCY OF THE CITY OF RIVERSIDE, a public entity <br /> 6 ("Grantor") and the DOWNTOWN DIVISION OF THE GREATER RIVERSIDE CHAMBERS OF <br /> 7 COMMERCE ("Grantee"), and is made with reference to the following facts: <br /> 8 RECITALS <br /> 9 A. The Grantor is a public entity organized in accordance with the Community Redevelopment <br /> 10 Law as contained in California Health and Safety Code Sections 33000, et seq. Pursuant thereto, <br /> 11 Grantor is authorized to undertake and support projects within designated areas of the City of Riverside <br /> 12 which foster the elimination of blighted conditions and encourage the economic well-being of such <br /> 13 areas. Through the Main Street Improvement Project, Grantor has coordinated the construction of <br /> 14 various improvements along the Main Street Mall in order to enhance its appearance and retail/business <br /> 15 viability. <br /> 16 B. Grantee is an organization which promotes the development of the downtown area of the <br /> 17 City of Riverside. Grantee is participating in the sponsorship of a "Festival of Lights," which is <br /> 18 intended to encourage an increased public presence and shopping within the downtown Riverside area <br /> 19 during the 1997 holiday season. <br /> 20 C. Grantee has sought, and upon the terms and conditions described herein, Grantor is willing <br /> 21 to provide, funding for certain costs associated with the 1997 Festival of Lights. <br /> 22 The parties, therefore, agree as follows: <br /> 23 1. Grant and Use of Matching Funds. Grantor agrees to provide a matching funds grant to <br /> 24 Grantee in an amount not to exceed twenty thousand dollars ($20,000). Such funds will be provided <br /> 25 by Grantor to Grantee on an incremental basis, within fifteen (15) days following receipt by Grantor of <br /> 26 written certification from Grantee regarding the amount of donations received by Grantee for which <br /> 27 matching funds are to be disbursed. Such funds will be used fully and exclusively for the placement <br /> <br />Attorney's Office <br />Street <br />CA 92522 gA t0--7-~7 <br />782-5567 <br /> <br /> <br />