- This was a non-binding document (neither party obligated legally).
- The land to be used for facility construction by the Y would be provided as a low cost land lease for 99 years.
- The parties signing this agreement are to equally share the cost of:
- a market study which would indicate demand and community support for a YMCA facility,
- a stewardship drive community survey which would indicate feasibility for the YMCA organization to raise the necessary capital to fund the construction of their portion of the property, and
- design planning expenses allocated to Ankrom Moisan Architects to prepare a preliminary master plan showing joint development of the property.
Later that day, we received word that the board liked the presentation and approved the Letter of Intent.
The following week, on February 11, the Board of Trustees, Presbytery of the Cascades, also approved this Letter of Intent.
Praise the Lord!
Doug Hoy
Chair, CMPF Site Planning Team