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Subject: (Direct Referral) Request by the Interim Executive Director for permission to accept a US-EPA grant for $500,000 FY 2015 Supplemental Funding for the CIty of Racine's Brownfield Clean-up Revolving Loan Fund (BC-RLF); Grant Control No. 00075 (Res No. 0166-16)
Recommendation of the Redevelopment Authority on May 2, 2016: That the Mayor, City Clerk, Director of City Development or designee, and other necessary City officials are authorized to accept a US EPA BC-RLF 2015 supplemental grant of $500,000 on behalf of the City and/or Authority, to sign all forms and documents, pay all fees, and take all necessary action to undertake, direct, and complete the supplemental grant activities.
Recommendation of the Finance & Personnel Committee on May 9, 2016: That the Mayor, City Clerk, Director of City Development or designee, and other necessary City officials are authorized accept a US EPA BC-RLF 2015 supplemental grant of $500,000 on behalf of the City and/or Authority, to sign all forms and documents, pay all fees, and take all necessary action to undertake, direct, and complete th supplemental grant activities.
Fiscal Note: It is estimated that all brownfield cleanup sites mentioned herein represent estimated need of funds in excess of $3,000,000.00. A 20% match is required from developers which represents $100,000 based on this grant of $500,000. "Developers" could be the City of Racine, the Authority or private parties. The City's and Authority's match funds are available via non-EPA grants, Tax INcrement Districts, and the Intergovernmental Shared Revenue account. (Grant Control No. 00075)