505TennesseeSt.Apt.

505
Memphis,TN38103
(503)886-9661
hellofairgrounds@gmail.com

June21,2017

This Memorandum of Understanding (MOU) defines the relationship between Friends of the
Fairgrounds and the City of Memphis (City), both of which may sometimes be referred to as the
PartiesandindividuallyasParty.

Whereas, the Parties are associating for the limited purpose of forming a mutually beneficial
relationship to reimagineandcomprehensivelyplantheFairgroundsbaseduponthetermssetforth
below.

Now,therefore,thePartiesmutuallyagreeasfollows:

That Friends of the Fairgrounds stated vision is to: create a world-class public amenity that
willdriveMemphisforwardintothefuturebymeetingcommunityneeds.

That over the next two years, Friends of theFairgroundswillbeallowedtocomprehensively

planthe168acresthatencompasstheFairgrounds&TobeyPark.

ThattheplanningprocesswillnotrequireanyfundingfromtheCityofMemphis.

That contingent on the successful execution of this MOU, Friends of the Fairgrounds has
commitmentsfromprivatefoundationstofundthecomprehensiveplanningeffort.

That during the two year planning process, Friends of the Fairgrounds will engage in
sustainedcommunityengagement,strategicprevitalization,andtacticalurbanismactivities.

That during the two year planning process, the City will abstain from any effortsthatwould
affecttheareaofstudy,includingbutnotlimitedtoaTourismDevelopmentZoneproposal.

That at the end of the two year planning period, Friends of the Fairgrounds will present a
completedcomprehensiveplantotheCityforapprovalandadoption.

 505TennesseeSt.Apt.505
Memphis,TN38103
(503)886-9661
hellofairgrounds@gmail.com

This MOU does not create a joint venture, partnership, or agency relationship between the
Parties.NeitherPartyhasauthoritytoactfororonbehalfoftheotherParty.

ThisMOUshallterminateontheearliestofthefollowing:

TwoyearsfromthedatethisMOUisfullyexecuted.

MutualagreementofbothPartiesinwriting.

Inwitnesswhereas,thePartieshaveexecutedthisMOUeffectiveonthelatestdateshownbelow.,

FriendsoftheFairgrounds CityofMemphis,Tennessee
OrganizationName OrganizationName


Name&Title Name&Title


Signature Signature


Date Date