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THE HOWARD G. BUFFETP FOUNDATION <br /> November 13,2017 COP Y <br /> Mr. Tim Gleason <br /> City Manager <br /> City of Decatur,IL <br /> 1 Gary K.Anderson Plaza <br /> Decatur, IL 62523 <br /> Dear Mr. Gleason: <br /> The Howard G. Buffett Foundation (HGBF) is providing the City of Decatur with a contribution in <br /> the amount of $1,000,000. This donation is restricted for the neighborhood redevelopment <br /> component of the City of Decatur's "Community Revitalization Plan", and more specifically, is <br /> limited to the following budget line-items: <br /> • Acquisition <br /> Note: Acquisition costs are limited up to and cannot exceed$75 per property <br /> • Planning <br /> • Administration <br /> • Management <br /> • Demolition <br /> • Lot Preparation and Property Improvements <br /> Note: Preparation costs are limited to the sale of lots to benefit the City of Decatur <br /> • Legal <br /> The line-item budget will be developed by the City of Decatur in the next several months. HGBF <br /> must approve the line-item budget before any grant funds can be expended. <br /> If HGBF and the City of Decatur are not able to reach an agreement on a viable line-item budget, the <br /> full amount of the grant funds and any accrued interest will be returned to the HGBF at its sole <br /> discretion. <br /> Once the line-item budget has been approved by HGBF, the City of Decatur agrees to submit a <br /> .financial accounting and brief narrative summarizing the activities every six months. Upon the <br /> conclusion of the project, and within thirty (30) days of that date, the City of Decatur agrees to <br /> submit a final narrative report and detailed summary of all funds expended. Please send the reports <br /> directly to me,with a copy to compliance@hgbfoundation.org. <br /> 145 N.MERCHANT ST.,DECATUR,hamms 62523 <br /> TELEPHONE:217/423-9286 FAx:217/423-9287 EMAiu INFo@HGBFourmAnoN.oRc <br />