Legacy Fund. If a budget surplus exists at the completion of the Games, in conjunction with the Contingency/Legacy Fund provided by the Province, the GOC will develop a legacy plan that shall benefit both the City and the County and consider the goals outlined in the Provincial Agreement Schedule C, 3.4 (a), (b), (c). This legacy plan shall be submitted to the City and County, for approval. In the event a single project that will benefit both the City and County cannot be identified by the GOC, the GOC shall propose two separate legacy plans, one for the City, utilizing 2/3 of the Legacy Fund, and one for the County, utilizing 1/3 of the Legacy. Such plans shall still take into consideration the goals outlined in the Provincial Agreement Schedule C, 3.4 (a), (b), (c). Once developed, the City legacy plan will be submitted to the City for approval, and the County legacy plan will be submitted to the County for approval.
Appears in 2 contracts
Sources: Intergovernmental Agreement, Intergovernmental Agreement