Be it resolved that following the recommendation of the Budget and Finance Committee the Executive recommends to the Board of Governors to resolve as follows:
Whereas: On August 31, 2012 the cooperation agreement signed between JAFI, R.A.M.G.G.A. Management & Holdings Ltd. (a company controlled by Mr. Avi Naor) and Ramat Hadassah Youth Village - expired; and
Whereas: The above mentioned parties are interested in continuing the cooperation agreement for the management and operation of the Youth Village; and
Whereas: R.A.M.G.G.A. has agreed to commit to participate in the budget of the Youth Village in the amount of up to $500,000 per annum until the end of the school year 5777 (2017), subject to a JAFI multi-year commitment of up to $2.5 M per annum for the period of school years5773 – 5777(September 2012- August 2017) for the continued operation of the Youth Village; and
Whereas: JAFI wishes to take such a multi-year commitment;
Therefore be it resolved that:
1. A multi-year commitment of up to US$2.5 M. per annum is approved for JAFI's participation in the budget of the Youth Village until the end of the school year 5777 (2017), subject to R.A.M.G.G.A.'s commitment to participate in the budget of the Youth Village in the amount of $500,000 per annum until the end of the school year 5777 (2017).
2. The Finance unit is authorized to incur, on a multi-year basis, financial and other obligations for the implementation of JAFI's undertaking as described above in accordance with the cooperation agreement to be signed with R.A.M.G.G.A. regarding the management of the Youth Village.