The attached Agreement is designed to formalize the major points reached in discussions between the Village Board and the Performing Arts at Metropolis (PAM) over the last several months. The Agreement sets forth the practices to be put in place for as long as the Village Board provides funding to PAM. Included in this Agreement is a requirement that the Village appoint three members of a new PAM board and a requirement for regular financial reporting to the Village from PAM.

Recommendation

It is recommended that the Village Board adopt the attached Resolution Approving an Agreement with the Performing Arts at Metropolis.