Title
Authorizing the Superintendent to enter into a Memorandum of Understanding with Madison Parks Foundation for improvements at Rennebohm Park.
Body
This Memorandum of Understanding outlines the roles and responsibilities of the Madison Parks Foundation and the Parks Division for the creation of a water play feature at Rennebohm Park. The Madison Parks Foundation will be donating $250,000 to fund capital improvements at the Park. The Parks Division will contribute $50,000 of capital funds to the construction of the Park. The Foundation will also maintain a fund of $200,000 to support the operating costs of the water play feature at the park for 20 years. The Parks Division will be responsible for the design and construction of the water play feature.
This MOU will go into effect after the execution of the Cooperative Agreement between the Madison Parks Foundation and the City (Legistar #78401).