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REQUEST FOR COUNCIL ACTION DATE: 7l10106 ITEM I�Q` �,� Department Approval: Manager Reviewed: Agenda Section: �� -, _ Item Description: Approval of a Recreation Agreement between the City of Roseville and the Friends of the OVAL Foundation (FOF) BACKGROUND In 1993 the John Rose Minnesota OVAL opened. Late spring and early fall start up of 2004 the facility began to experience mechanical challenges that left the facility unable to open with refrigerated ice for the 2004-05 season. Due to the efforts of the user groups, interested Guidant Corp. employees, the OVAL Task Force and the Friends of the OVAL Foundation (FOF) a proposal was submitted to the Guidant Foundation to assist with the immediate repairs as well as provide additional long term financial sustaining assistance for operation and capitalization. Ultimately $1,000,OOOwas secured by the Friends of the OVAL Foundation (FOF). The first $500,000 was allocated for the immediate repairs and enhancements. The second $500,000 has been received and is the incentive for a matching capital campaign to grow an endowment fund that has been created. The proceeds are to be used for the Roseville Skating GenterlQVAL operation and capitalization in order to assist in the long term financial viability of the facility. To ensure in the future that the endowment fund is utilized for its intended purpose, the attached Recreation Agreement between the City of Roseville and the Friends of the OVAL Foundation is proposed. This comes to you after much discussion and a recommendation of Staff, City Attorney, Parks and Recreation Commission, Roseville Skating Center OVAL Advisory Committee and the Friends of the OVAL Foundation. POLICY OBJECTIVE Written agreements between the City of Roseville and other organizations as a way to reduce city costs while �r�ai�a�� high quality programs �r�� facilities are consistent with city policy.