Whereas:         in February, 2007 the Board of Governors approved JAFI's multi-year funding commitment towards the Kiryat Ye’arim youth village (hereinafter the “Youth Village”) in the amount of $1.5 M U.S. dollars annually up until the end of the 2009 academic year (August 2009); and

Whereas:         JAFI wishes to extend this multi-year commitment until the end of the 2011 – 2012 school year (August 2012) in order to attract partners for additional funding commitments;

Therefore be it resolved:

1.         A multi-year budget of $1.5 M U.S. annually is approved for JAFI's participation in the budget of the YouthVillage until the end of the 2011 - 2012 school year (August 2012).

2.         The Finance Department is authorized to incur, on a multi-year basis, financial obligations for implementation of the undertakings of JAFI in accordance with a partnership agreement to be signed regarding the management of the YouthVillage.