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File #: 1075-18    Version: A Name: Wild Root Grant Agreement Amendment (Res. 0333-18)
Type: Communication Status: Passed
File created: 10/11/2018 In control: Finance and Personnel Committee
On agenda: Final action: 11/7/2018
Title: Subject: Communication from the City Administrator and Director of City Development requesting an amendment to the Wild Root Grant Agreement allowing for the release of $175,000 in approved Grant Funds to effectuate the closing on real property at 500 Walton Avenue. (Res. 0333-18) Recommendation of the Finance & Personnel Committee on 10/22/2018: To execute amendments to an approved grant agreement to allow for the release of $175,000 in approved grant funds to effectuate the closing on real property at 500 Walton Avenue. Fiscal Note: The $390,000 grant is funded through the Intergovernmental Shared Revenue Fund as approved by Resolution 0015-18 of May 1, 2018. $175,000 drawdown to be used at property closing with the remaining $215,000 to be drawn at closing of private financing by December 31, 2019.
Attachments: 1. Wild Root Agenda Briefing Memo for October 16 2018, 2. Wild Root Market Grant Agreement Further Refinement Draft for F&P
Related files: Res.0333-18

Title

Subject: Communication from the City Administrator and Director of City Development requesting an amendment to the Wild Root Grant Agreement allowing for the release of $175,000 in approved Grant Funds to effectuate the closing on real property at 500 Walton Avenue. (Res. 0333-18)

 

Recommendation of the Finance & Personnel Committee on 10/22/2018: To execute amendments to an approved grant agreement to allow for the release of $175,000 in approved grant funds to effectuate the closing on real property at 500 Walton Avenue.

 

Fiscal Note: The $390,000 grant is funded through the Intergovernmental Shared Revenue Fund as approved by Resolution 0015-18 of May 1, 2018. $175,000 drawdown to be used at property closing with the remaining $215,000 to be drawn at closing of private financing by December 31, 2019.