2024-017 - Approving the Return of a Portion of $200,000.00 donation from the Philip and Sally Cecil Foundation in the amount of $166,790.00

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RESOLUTION NO. 2024-017 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING THE RETURN OF A PORTION OF A $200,000.00 DONATION FROM THE PHILIP AND SALLY CECIL FOUNDATION, INC. IN THE AMOUNT OF $166,790.00; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, in December of 2021, the Philip and Sally Cecil Foundation, Inc. ("Cecil") donated the sum of $200,000.00 (the "Cecil funds") to the City to assist in alleviating the need for affordable housing within the corporate limits of the City through the administration of the HOME programs; and WHEREAS, since that time, Cecil agreed to the application of a portion of those funds to be applied towards the cost of a city-wide housing study; and WHEREAS, on December 13, 2021, the City Council of the City of Paris, Texas accepted Cecil's donation by Resolution No. 2021-049; and WHEREAS, to date, a portion of the Cecil funds in the amount of $33,210.00 has been applied towards the cost of said housing study; and WHEREAS, to date, the City has not had occasion to access the Cecil funds for the HOME programs; and WHEREAS, Cecil has requested the return of the balance of the Cecil funds to have available for use in the community for other projects; and WHEREAS, the City Council has considered the request and finds the return of the balance of the Cecil funds to be in the best interest of the City's residents; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved and are incorporated herein for all purposes. Section 2. That the City Council of the City of Paris, Texas approves the return of a portion of the Cecil funds in the amount of One Hundred Sixty -Six Thousand Seven Hundred Ninety and No/100 Dollars ($166,790.00) to the Philip and Sally Cecil Foundation, Inc. and authorizes the Finance Director to promptly remit same. Section 3. That this resolution shall be effective from and after its date of passage.