Laserfiche WebLink
Department Approval <br />l�'�, <br />Jy <br />REQUEST FOR COUNCIL ACTION <br />Date: 03/23/2009 <br />Item No.: 7.c <br />Acting City Manager Approval <br />° � <br />� .�: �� <br />Item Description: Reaffirm Grant Resolution for Awarded DEED Redevelopment Grant and <br />Approve Contract <br />1.O BACKGROUND <br />1.1. On August 1, 2008, the City applied for funds from the Department of Employment and Economic <br />Development to assist with the construction of the initial phase of infrastructure within the Twin <br />Lakes Redevelopment Area. <br />1.2. During the agency review of the grant application, DEED staff identified a technical error with the <br />City's adopted Resolution of Application (Resolution 10643, adopted on July 21, 2008). The State <br />requires that statutory cities authorize both their mayor and city clerk to apply for the grant— <br />Roseville's resolution only identified the mayor. DEED staff alerted city staff to this error and <br />determined that if the City was to receive a grant award, they would need to reaffirm the resolution <br />to remedy this error. <br />1.3. On September 12, 2008, DEED awarded the City $528,846. Staff has prepared a revised resolution <br />correcting the identified omission (Attachment A) and has received a grant agreement from DEED <br />to accept the award. <br />2. O POLICY OBJECTIVE <br />2.1. Sy accepting the DEED Redevelopment Grant Funds, the City is taking a proactive step to <br />leverage external funds to assist with the acquisition of right-of-way and construction of the public <br />roadways and utilities. <br />3.O FINANCIAL IMPACTS <br />3.1. If the City accepts this grant, it is obligating itself to provide matching funds. As identified in the <br />contract (Attachment S), the total eligible project costs are $2.618 million of which the DEED <br />grant will pay for up to $528,846 in costs and the City is responsible for the $2,089,154 in costs. <br />Of those remaining costs, DEED is allowing the City to attribute $453,577 of the infrastructure <br />monies put forward by Metro Transit. The City is responsible for the outstanding $1,635,577. <br />These are TIF-eligible expenses and there are sufficient balances within existing districts to offset <br />these costs. <br />4. O STAFF RECOMMENDATION <br />4.1 Staff recommends that the City Council approve the amended Resolution of Application. The only <br />difference between the original resolution and this amendment is the addition of the the words <br />Page 1 of 2 <br />