Lions Club President Judy Duvall & CKL Inc. President Maurice Hendrix watch Mayor Paul Oliver sign the Lions Building sales agreement.
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Cedar Key, Fl August 16, 2006 – The City of Cedar Key has acquired the Lions Club property and building on 6th street so that the building can achieve its full potential as a Community Center. "Built in 1989 under the leadership of Lions Club member P.H. Day and others, with the intention that the building not only be used as a Lion's Club facility, but also as a city wide Community Center, the facility can now can fulfill that goal," said Maurice Hendrix of the Lion's Club. "The building was vastly under-used, and the Lions Club was being diverted from its mission of community service in the areas of vision care, diabetes, hearing, and youth issues to one of being a landlord and providing building maintenance." The proceeds from the sale of the building, $950,000, provided by Community Redevelopment Agency (CRA) funds, will go into an independent Agency Endowment Fund to be held and administered by a Community Foundation as a permanent investment that will primarily benefit the people of Cedar Key. The principal sale amount in the fund will remain intact and untouchable by any group, growing forever, with the income benefiting the Cedar Key community through the Lions Club projects or other community charities. "This is a win-win situation for the city and citizens of Cedar Key," said Hendrix. " Ad valorem tax money returned to the CRA makes the Community Center possible, and the Lions have made it possible for that money to be invested to benefit the Cedar Key community forever." | 