HomeMy WebLinkAboutITEM V-D
AGENDA BILL APPROVAL FORM
Agenda Subject:Date:
Resolution No. 4594 and project initiation April 19, 2010
Department:Budget Impact:
Attachments:
Planning and $4,800,000
Resolution No. 4594
Development and Exhibit 1 (identified in Capital Facilities
Plan)
Administrative Recommendation:
The City Council adopt Resolution No. 4594.
Background Summary:
The City presented the South Division Street Promenade project to the Economic Development District
Board (of Puget South Regional Council) on December 12, 2007. The City’s project was ranked number
1 to the Economic Development Administration (EDA) by this board. Next step, the City submitted a pre-
application for investment assistance August 2008. The City was then informed by EDA the City met the
demographic requirements for investment assistance November 2008 and our pre-application was
approved and the City was invited to submit formal application on June 2, 2009. Our formal application
was submitted August 27, 2009 and the review process with EDA began. Our application was forwarded
to the Washington, DC EDA office for review in February 2010 and the City received our Notice of
Investment Award on April 14, 2010.
The investment award is for $3,000,000 with a 50% match required; EDA’s contribution to the total project
cost is 38%. The total project cost for the South Division Street Promenade is estimated at $7,800,000
and the City’s funding source for the balance of the estimated project cost, which is $4,800,000, is
through Local Revitalization Funding.
Resolution No. 4594 approves the appropriation and expenditure of U.S. Department of Commerce
Economic Development Administration grant funds in the amount of $3,000,000 for Project No. CP1005
authorizes the Mayor or his designee to accept the EDA investment award of $3,000,000 and to execute
the necessary paperwork.
Reviewed by Council & Committees:Reviewed by Departments & Divisions:
Arts Commission COUNCIL COMMITTEES: Building M&O
Airport Finance Cemetery Mayor
Hearing Examiner Municipal Serv. Finance Parks
Human Services Planning & CD Fire Planning
Park Board Public Works LegalPolice
Planning Comm. OtherPublic Works Human Resources
Information Services
Action:
Committee Approval: Yes No
Council Approval: Yes NoCall for Public Hearing___/___/____
Referred to _________________________________ Until ____/___/____
Tabled ______________________________________ Until___/___/____
Councilmember:Staff:
Norman Snyder
Meeting Date:Item Number:
April 26, 2010
RESOLUTION NO. 4 5 9 4
A RESOLUTION OF THE CITY OF AUBURN,
WASHINGTON, AUTHORIZING THE MAYOR TO
EXECUTE THE FINANCIAL ASSISTANCE AWARD
BETWEEN THE CITY OF AUBURN (THE CITY) AND
THE U.S. DEPARTMENT OF COMMERCE,
ECONOMIC DEVELOPMENT ADMINISTRATION
(THE EDA) APPROVING EDA FUNDS FOR THE
DESIGN AND CONSTRUCTION OF IMPROVEMENTS
FOR THE SOUTH DIVISION STREET PROMENADE
PROJECT
WHEREAS, in an effort to encourage additional downtown redevelopment and
growth of downtown amenities, the City of Auburn desires to pursue the South Division
Street Promenade that would connect the City Hall Plaza and the four block downtown
revitalization catalyst area for urban living; and
WHEREAS, current redevelopment of adjacent commercial property in the vicinity
rd
requires improvements to South Division Street between 3 Street SW and Main Street
SW (“the Project”); and
WHEREAS, the EDA desires to contribute to the design and construction of the
Project, relative to the economic benefits that will be realized by redevelopment of
adjacent commercial properties; and
WHEREAS, the EDA has agreed to provide a $3,000,000 grant in support of the
Project (“EDA Grant”); and
WHEREAS, the EDA investment grant requires a 50% match ratio of local funds
and the EDA investment grant will contribute 38% of the total project cost; and
_______________________
Resolution No. 4594
April 21, 2010
Page 1 of 3
WHEREAS, the City has been awarded a demonstration project through the Local
Revitalization Funding state legislative process which will be leveraged to provide the
matching funds for this grant; and
WHEREAS, the City Council passed Resolution No. 4501 on August 17, 2009
which authorized the Mayor to submit a formal application for investment assistance
from the Economic Development Administration which was completed on August 27,
2009; and
WHEREAS, the Economic Development Administration approved the City’s
application for a $3,000,000 investment grant on April 14, 2010, which funds shall be
used for the South Division Street Promenade Project, with local matching funds of
$4,800,000 from the issuance of Limited General Obligation and Build America Bonds
Fund; and
WHEREAS, it is in the best interest of the City to complete the Project to promote
redevelopment of the adjacent commercial properties.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN
HEREBY RESOLVES as follows:
Section 1
. Acceptance and Authorization.
The City Council hereby accepts
the federal EDA grant and authorizes the Mayor to execute the Financial Assistance
Award with the EDA to obligate the amount of $3,000,000 for the project, in substantial
conformity with the Financial Assistance Award attached hereto, marked as Exhibit “1”
and incorporated herein by this reference. The Mayor is also authorized to approve and
execute any future supplemental agreements thereto required for completion of the
project including, but not limited to, design, construction, and right-of-way acquisition.
_______________________
Resolution No. 4594
April 21, 2010
Page 2 of 3
Section 2. Implementation.
That the Mayor is further authorized to implement
such administrative procedures as may be necessary to carry out the directives of this
Resolution.
Section 3. Effective Date.
That this Resolution shall take effect and be in
full force upon passage and signatures hereon.
Dated and signed this _____ day of _________________, 2010.
CITY OF AUBURN
_________________________
PETER B. LEWIS
MAYOR
ATTEST:
_________________________
Danielle E. Daskam, City Clerk
APPROVED AS TO FORM:
_________________________
Daniel B. Heid, City Attorney
_______________________
Resolution No. 4594
April 21, 2010
Page 3 of 3
÷ÄÔÓÚÓÈ