Laserfiche WebLink
Bloomberg <br />P1.11flanth.-tx1pi.es <br />EXECUTION VERSION <br />GRANT AGREEMENT <br />BETWEEN THE BLOOMBERG FAMILY FOUNDATION INC. <br />AND THE CITY OF SOUTH BEND <br />GRANT AGREEMENT (hereinafter referred to as the "Agreement") made as of the 1" day of January, <br />2019 by and between The Bloomberg Family Foundation Inc. (the "Foundation") and the City of South <br />Bend, acting by and through its Board of Public Works for the benefit of the Department of Innovation <br />and Technology (the "Grantee"). <br />WHEREAS, the Foundation has created the U.S. Mayors Challenge (the "Mayors Challenge") to inspire <br />American cities to generate innovative ideas that solve major challenges and improve city life — and that <br />ultimately can be shared with cities around the world; <br />WHEREAS, the specific, primary goals of the Mayors Challenge (as more fully described in Schedule A <br />hereto) are to (1) increase the number of innovative, local solutions to global urban problems, which are <br />viable in multiple cities and implementable by local governments, (2) drive significant public discussion <br />about the role of cities and mayors in solving our toughest challenges and (3) provide a platform to help <br />these ideas spread around the world; <br />WHEREAS, the Grantee has been selected as a winner of the Mayors Challenge for its project to help <br />low-income and part-time workers with unreliable transport options commute to their jobs by partnering <br />with ride -share companies and employers (the "Project"); <br />WHEREAS, the purposes of the prize and this Grant are to support the implementation of the Project <br />and to build a foundation for future replication if the Project is successful, and the Grantee is committed <br />to these efforts; and <br />WHEREAS, the Foundation wishes to make a contribution to the Grantee to provide support to the <br />Grantee to help implement the Project; <br />NOW, THEREFORE, THE FOUNDATION AND THE GRANTEE AGREE AS FOLLOWS: <br />1. Grant. The Foundation has pledged and agreed that the Grantee will receive cash <br />or cash equivalents in an amount not to exceed ONE MILLION DOLLARS ($1,000,000) (hereinafter <br />sometimes referred to as the "Grant" and the "Grant Funds"). Grant Funds shall be available during the <br />period beginning on January 1, 2019 and ending on December 31, 2021 or such earlier or later <br />termination date as provided in this Agreement (the "Grant Term"). Grant Funds shall be paid in U.S. <br />Dollars. Grant Funds will be paid in four installments after receipt by the Foundation of the enclosed <br />countersigned copy of this Agreement and according to the following payment schedule and instructions <br />for payment: <br />ID#51642.01 <br />