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11-09-2016 PC
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11-09-2016 PC
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Exhibit F <br />1 <br /> <br />CHARITABLE PLEDGE AGREEMENT <br />This Agreement (“Agreement”) is made on this ___ day of __________, 2016, by and <br />between the University of Northwestern—St. Paul, a Minnesota non-profit corporation <br />(“Donor”) and the City of Arden Hills, Minnesota, a Minnesota statutory city (the “City”). <br />WHEREAS, Northwestern is a university which proposes to locate a facility at 1265- <br />1275-1285 Grey Fox Road; Arden Hills, Minnesota (the “Facility”); <br />WHEREAS, the Facility is, or will be, exempt from real property taxes under Article 10, <br />Section 1, of the Minnesota Constitution and Minnesota Statutes Section 272.02; and <br />WHEREAS, Donor wishes 1) to assure support for parks within the City, which lead to a <br />better environment for City residents and Donor students, faculty, and staff or 2) to help the City <br />establish an internship program for students that benefits the City and business community. <br />NOW, THEREFORE, the parties hereto agree that the above recitals are incorporated <br />into this agreement, and further agree: <br />1. The Donor herewith pledges to give Eighty Thousand Dollars ($80,000.00) <br />(“Pledge”) to the City to be delivered over ten years in installments as follows: <br />2017 $8,000 <br />2018 $8,000 <br />2019 $8,000 <br />2020 $8,000 <br />2021 $8,000 <br />2022 $8,000 <br />2023 $8,000 <br />2024 $8,000 <br />2025 $8,000 <br />2026 $8,000 <br />2. Donor agrees to make the Pledge payments to the City of the Amounts shown in <br />Section 1 in two equal installments of Four Thousand Dollars ($4,000.00) on or before May 15 <br />and October 15 each year of 2017 through 2026. <br />3. Donor’s Pledge shall be used to pay for, or reimburse the City for the payment of, <br />expenses related 1) to parks within the City that lead to an enhanced quality of life within the <br />City or 2) an internship program for students that benefits the City and business community. <br />4. Regarding any Pledge provided under this Agreement, the Donor and City shall <br />have the right to approve any publicity relating thereto. <br />5. City shall be responsible for the retention, investment and disbursement of any <br />and all funds received by it from Donor pursuant to Donor’s Pledge.
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