January 9, 2024
Item No. 13
LECTURE HALL PROJECT
January 9, 2024
City Council Meeting
OVERVIEW OF THIRD AMENDMENT TO MOU
•Total project cost updated to $23.5
million
•Each party's financial commitment
increased to $11.7 million
•NBPLF's Commitment
•$7.1 million on hand
•$4.6 million fundraising
• Approval of Third Amendment to MOU
• NBPLF places $7.1 million in escrow
• City awards the construction contract
• •Lecture Hall is built
• Remainder of NBPLF's commitment of $4.6
million paid within 2 years or upon issuance of
certificate of occupancy -i
L
PO�T
� D
� n
cq�/FORN�P 4
Suspension of NBPLF's use
Endowment income to City
ORIGINAL MOU
• Furniture, Fixtures and Equipment
(FF&E):
• Broadly defined
• Change Orders:
• Meet & confer process
• Did not specify who would pay
for optional change orders
• Future Project Enhancements:
• Authorized NBPLF to request
future project enhancements
Q��WPO�T
� D
� n
cq�/FORN�P
THIRD AMENDMENT
• FF&E:
• Limited to FF&E included in the
construction drawings
• Change Orders:
• Requesting party required to pay
for change orders
• Future Project Enhancements:
• Once the full NBPLF
commitment of $11.7 million has
been paid
• At NBPLF's expense
101
Original MOU
• arary Lecture
u NBPL 15 governs
se
Third Amendment
• "Lecture Hall"
• Right of first use
50 days per year
Csc�eda a
unnggPuse
Original MOU
• LH Facade - Witte Hall
• Courtyard - Stahr Courtyard
• I�oy - Woolsey Memorial
o y
• Green Room
• Donor Wall
Second Amendment
• Audio -Visual Booth
• Auditorium
Third Amendment
• Auditorium Seats
Per ticket cost
• Cost Study with
user fees applied
per use
• Section 3.6: Subject to compliance with the Declaration of Special Land Use Restrictions recorded on the
Property
• Section 12.3: Add auditorium and audio-visual booth
CONCLUSION
a