The URL can be used to link to this page

Home My WebLink AboutITEM VIII-B-1 * C17'YOF ~AGENDA BILL APPROVAL FORM WASHWGTON ~ Agenda Subject: Date: Resolution No. 4501 Au ust 11, 2009 Department: Attachments: Budget Impact: ' Administration/Finance Resolution No. 4501 & Exhibits "A" & "B" Administrative Recommendation: City Council adopt Resolution No. 4501. Background Summary: Resolution No. 4501 authorizes the Mayor, or his designee, to accept the invitation offered by the U.S. Economic Development Administration and apply for the $3,000,000 EDA grant which will be used to assist in the funding of the Promenade capital improvement project for the downtown revitalization catalyst area. The current date for applying to the U.S. Economic Development Administration for the EDA grant has been extended to August 31. Reviewed by Council & Committees: Reviewed by Departments & Divisions: ❑ Arts Commission COUNCIL COMMITTEES: ❑ Building ❑ M&O ❑ Airport 0 Finance ❑ Cemetery ❑ Mayor ❑ Hearing Examiner ❑ Municipal Serv. E Finance ❑ Parks ❑ Human Services ❑ Planning & CD ❑ Fire ❑ Planning ❑ Park Board ED Public Works 0 Legal ❑ Police ❑ Planning Comm. ❑ Other ❑ Public Works ❑ Human Resources ❑ Information Services Action: Committee Approval: ❑Yes ❑No Council Approval: ❑Yes ❑No Call for Public Hearing Referred to Until Tabled Until Councilmember: Backus Staff: Coleman Meetin Date: Au ust 17, 2009 Item Number: VIII.B.1 ~,[J$j,JRN ?k MORE THAN YOU IMAGINED RESOLUTION NO. 4 5 0 1 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, AUTHORIZING THE MAYOR TO SUBMIT AN APPLICATION TO THE U.S. ECONOMIG DEVELOPMENT ADMINISTRATION FOR A PUBLIC WORKS AND ECONOMIC DEVELOPMENT GRANT WHEREAS, in an effort to encourage additional downtown redevelopment and growth of downtown amenities, the City of Auburn desire to pursue the construction of a promenade capital improvement project along South Division Street that would' connect City Hall and the four block downtown revitalization catalyst area for urban living; and WHEREAS, the City has prepared conceptual plans for an $8,000,000 promenade project that consists of the reconstruction of South Division Street including three blocks of roadway pavement, crosswalks, sidewalks, pedestrian & street lighting, water/storm/sewer utility improvements and landscaping; and WHEREAS, the City applied to the U.S. Economic Development Administration (EDA) for a Public Works and Economic Development grant to provide funding assistance for the construction of the promenade capital improvement project; and WHEREAS, on June 2, 2009, the City was provided by the EDA with a formal invitation to apply for a Public Works and Economic Development Grant in the amount of $3,000,000; and WHEREAS, the City is required to provide a local match share toward the total project cost in the amount of $5,000,000; and WHEREAS, the City intends to fund the local match by securing funds through the issuance of General Obligation Bonds with repayment of such general obligation Resolution No. 4501 ' July 17, 2009 Page 1 of 3 debt through Local Revitalization Funds and revenues generated from the collection of real estate excise taxes (Exhibit "A"); and WHEREAS, the City Council will amend the City's Annual Budget dependent upon a grant award and the City's ability to fund required matches; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, HEREBY RESOLVES AS FOLLOWS: Section 1. Purpose. The Mayor or his designee is authorized to accept the invitation offered by the U.S. Economic Development Administration (Exhibit "B") and apply for the $3,000,000 EDA grant and, as necessary, to prepare amendments to the Annual Budget as the grant is secured and matching funds are identified within the existing Budget or where new budget is appropriated. Section 2. Implementation. The Mayor of the City of Auburn is hereby authorized to implement such administrative procedures as may be necessary to carry out the directives of this Resolution. Section 3. Effective Date. This Resolution shall take effect and be in full force upon passage and signatures hereon. DATED and SIGNED THIS DAY OF 12009. CITY OF AUBURN : PETER B. LEWIS, MAYO R Resolution No. 4501 July 17, 2009 Page 2 of 3 ATTEST: Danielle E. Daskam, City Clerk APP VED S TO FORM: Pa' I B. H id, i y Attorney Resolution No. 4501 July 17, 2009 Page 3 of 3 Exhibit "A" Promenade Proiect (Downtown Redevelopment) Budqet Expenditures Items Amount Propert Ac uisition 1,500,000 Promenade Capital Improvement:s 8,000,000 Administrative Expenses includes an ri ht-of-wa ac uisitions 550,000 Archectural/En ineerin Ex enses (Design/Construction) 830,000 Construction - trans ortation, utilities 5,512,000 Contin enc 11103,000 Total 9,500,000 Revenues Items Amount Cummulative Reserve Funds 1,500,000 EDA Grant 3,000,000 Utilit Funds (sewer, water, storm N/A General Obligation Debt 5,000,000 Total 9,500,000 Notes: 1) Debt Service - G.O. Debt: Annual payment: $5 million debt - 25 year @5.5% 500,000 Payment source: Local Revitization Funding (City match LRF grant at 50%) 250,000 REET 2/Increased City Revenues w/in "RA" 125,000 375,000 2) Match Formula: Balance of City (annual - $125,000) EDA grant: amortized @$125,000 x 24 years =$3,000,000 3) Potential City Funding Liability for powntown Redevelopment: Downtown Revitization area transportation impact fees - est. $3.2 million Utility infrastructure improvement costs - est. $800,000 4) Utilities Funds (sewer, water, storm) A percentage of the cost to be funded by the utilities in under review by staff and Administration and will presented to City Council for policy direction Prepared: 8/12/2009 I _ - ~ ; Exhibit "B" ; i U. S. DEPARTMENT OF COMMERCE * * Economic Development Administration ! r ~ 915 Second Avenue, Room 1890 ~ Seattle, WA 98174 * * Fax; 206,220.7669 Vojce: 206.220J660 Phone: (206) 220-7660 June 2, 2009 The Honorable Peter Lewis Mayor, City of Aubum 25 W est Main Street Auburn, Washington 98001 Dear Mayor Lewis: This ]etter is a formal invitation to submit an application to the Economic Development . Administra.tion (EDA) for a Public Works and Economic Development Grant. This application is authorized under Title II, Section 201 of the Public Works and Economic Development Act, as amended by the Economic Development Administration Reauthorization Act of 2404, Public ' Law 108-373. The EDA grant would assist the funding of your project to construct infrastructure i.mprovements as identified in the Investment Summary to revitali2e the downtown corridor of the City. The City of Aubunn is authorized to request a$3,000,000 EDA grant, which is 38 percent of the total estimated project cost of $8,000,000. The City's local matching share is $5,000,000. The City's grant request is being considered as a back-up for funding in fiscal year 2009. An application will be e-mailed to you; save it to your desktop, and when complete, mail an , original and one copy to your Project Officer, JoAnn Smith at the above address. The application is due on or before June 19, 2009. If there is a delay in submitting any exhibits, please list the missing exhibits in your application transmittal letter. Also copies of the Environmental Narrative and M3 Engineering Report, responses to items 1-8, should be e-mailed to Ms. Srnith at ismith33@eda.doc.gov. You also may reach Ms. Smith at (206) 220-7689 to answer your questions. Ms. Smith will conduct a review of your application and notify you of any deficiencies identified. The Seattle Regional Office has limited annual authority to invite public works grant ' applications. If clearing deficiencies takes an unusual amount of time or the applicant is non- responsive to questions, EDA will suspend processing of your project proposal. Subsequently the application may be officiatly denied and returned to you if deficiencies persist, so EDA can consider other proposals. The Honorable Peter Lewis Mayor, City of Aubum, Wasltington Page 2 This invitation to submit an application is by no means an indication that EDA will approve your application. Such approva] is contingent upon many factors, including, but not limited to, the availability of funding for FY 2009, and meeting all appropriate statutory, regulatory and policy requirements. Sincerely, ~ . Leonard Smith ~ Regional Director ~ Copy: Jacob Macias, EDR .