WRITTEN Motion by Council Member Laster to amend Item 18 below as follows:
NOTE: The following Item may be moot upon passage of Item 17 below
(Option No. 1)
I move to amend the Memorial Park Golf Course Development and Construction Agreement (Agreement) to provide that the entire amount of the $1 Million Dollar Event Fee be paid to and deposited into the City of Houston Parks and Recreation Department (Department) Golf Fund No. 2104 for the specific use in the maintenance, improvement and operations of the City of Houston’s multiple municipal golf courses. This Amendment to the Agreement shall by, deleting and inserting the words, phrases or sentences shown below, specifically read as follows:
“Section 9.07. Event Financial Terms and Other Consideration. The following items constitute consideration for the Parties to enter into the Facilities Agreement.
(a) Event Fee. For each Event during the Term, the Foundation shall remit to the City and MPC an Event Fee in a collective amount of One Million Dollars ($1,000,000) no later than forty-five (45) days after completion of Event Week. Of the Event Fee, the Foundation shall remit to the City Seven Hundred Fifty Thousand Dollars ($750,000) and to MPC Two Hundred Fifty Thousand Dollars ($250,000), and MPC agrees to use such contribution for the benefit of the Park in accordance with the terms and conditions of Section 6.08(b) of the MPC Agreement the full amount of said $1,000,000 Event Fee to be deposited into the Houston Parks and Recreation Department Golf Fund No. 2104 for the specific use in the maintenance, improvement and operations of the City of Houston’s municipal golf courses”
TAGGED BY COUNCIL MEMBERS BOYKINS and LASTER