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Thousand and No /100 ($250,000.00) Dollars to serve as a community museum and house LCHS; <br />and <br />WHEREAS, the City and the LCHS recognizes the funding of this project is a major <br />financial undertaking for the City; and <br />WHEREAS, the LCHS has offered to undertake significant fundraising efforts to offset <br />the City's costs associated with this project. <br />NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby <br />acknowledged, the parties agree as follows: <br />1. The City and the LCHS have mutually agreed to cooperate in the development and <br />operation of a public community museum to preserve Little Canada's unique heritage, and to <br />coordinate the construction, labor, materials and development of the site. <br />2. The City will cause the construction of an addition to the Little Canada City Center in <br />a manner consistent with the Feasibility Report prepared by Boarman Kroos Pfister Rudin & <br />Associates dated March 8, 1996. Construction will occur as soon as practical as determined by <br />the City. <br />3. LCHS hereby declares its interest and intent to initiate a charitable gambling <br />enterprise within Little Canada subject to state and local requirements. It is recognized that the <br />LCHS is not eligible for licensing by the State of Minnesota until May of 1999 based upon <br />current statutory requirements. The LCHS will use its best efforts to obtain a license as soon as <br />legally permissible and subject to the availability of a site in Little Canada. <br />4. In its continuing support of community based organizations, the City shall, subject to <br />the approval of the City Council, award a charitable gaming site within Little Canada to the <br />2 <br />Page 74 <br />