HomeMy WebLinkAboutD-3 Fonoimoana Apptmts (2)CONSENT CALENDAR ITEM
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: F. M DELACH, CITY MANAGER
DATE: NOVEMBER 21, 2005
SUBJECT: APPOINTMENT OF CARL M. FONOIMOANA AND MARIANNE HLAVA TO THE BOARD OF THE
CITY OF AZUSA/MONROVIA NURSERY CO.FOUNDATION
RECOMMENDATION
It is recommended that City Council appoint Carl M. Fonoimoana and Marianne Hlava to the Board of the City of
Azusa/Monrovia Nursery Co. Foundation.
BACKGROUND
The Development Agreement between the City of Azusa and the Monrovia Nursery (MNC) that controls the
development of the Rosedale Development Project stipulates that MNC will form a non-profit community
foundation named the "City of Azusa/Monrovia Nursery Co. Foundation", a qualified Internal Revenue Code entity
that will provide financial benefits to non-profit charitable organizations, civic organizations and public facilities
within the City of Azusa. The City Council shall appoint two Board members and MNC shall appoint three Board
members. The Development Agreement does not stipulate the terms of the Board members, which will be
determined by the bylaws that will be filed with the State and which may be amended from time to time by the
Board,
The Foundation is funded initially by a $2.5 million contribution by MNC, of which $500,000 is to be utilized
exclusively for the Azusa Public Library and related programs. The Foundation is funded subsequently through a
0.5% contribution of the closing purchase price of each home sale in the project with certain exceptions.
Therefore, funding will be largely dependent on the turnover of homeowners in the future.
The City Council conducted interviews on September 9, 2005 and agreed on the appointment of Carl M.
Fonoimoana and Marianne Hlava. Tonight's action will formalize the appointment of these two community
members to the Board.
FISCAL IMPACT
Since the Foundation is self-funded, there is no impact to the City.