City Council Approves Agreement with Rotary Club

The Hastings City Council has approved a Contribution Agreement between the City and the Hastings Area Rotary Foundation. The agreement places a good faith requirement upon the Rotary to continue its fundraising activities until it reaches its goal of $500,000 in contributions for the pavilion in Phase 2 of the Riverfront Renaissance Project. The City has committed to constructing the pavilion. The agreement does not allow the city to recover from the Rotary or its members any amount by which the fundraising goals fall short of the targeted $500,000. The city agrees to make up the difference between the actual amount raised and the targeted amount and to pay project costs charged by the contractor in excess of $500,000. The Rotary would be expected to continue fundraising efforts even after city funds were expended and to reimburse the city for those additional costs. To date, the Rotary has raised approximately $400,000 for the project.