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File #: 0125-20    Version: A Name:
Type: Communication Status: Passed
File created: 2/25/2020 In control: Finance and Personnel Committee
On agenda: Final action: 4/20/2020
Title: Subject: Communication sponsored by Alder Jung requesting authorization for the Mayor and City Clerk to authorize an application to the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) and agree that the receipt of a grant under this program will result in a reduction of future municipal payments pursuant to § 79.035(7), Wis. Stats. (Grant Control 00292) Recommendation of the Finance and Personnel Committee on 03-09-2020: Approve authorizing application to the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) for up to two buses and agreeing to a reduction of future State shared revenue payments to pay for the local share. Fiscal Note: $418,328 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.
Attachments: 1. VW Mitigation Program Transit Capital Assistance Grant Program Application and Attachments, 2. Appendix A-VW Mitigation Program Transit Capital Assistance Grant Program-Round 2, 3. Racine VW application 2020 v3 - Mike Maierle, 4. Budget - Mike Maierle, 5. Attachments v1 - Mike Maierle, 6. #0125-20 Resolution, 7. #0125-20 Mayoral Order.docx
Related files: 0201-20

Title

Subject: Communication sponsored by Alder Jung requesting authorization for the Mayor and City Clerk to authorize an application to the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) and agree that the receipt of a grant under this program will result in a reduction of future municipal payments pursuant to § 79.035(7), Wis. Stats. (Grant Control 00292)

 

Recommendation of the Finance and Personnel Committee on 03-09-2020: Approve authorizing application to the Wisconsin Transit Capital Assistance Grant Program (VW Mitigation Program) for up to two buses and agreeing to a reduction of future State shared revenue payments to pay for the local share.

 

Fiscal Note: $418,328 in reduced state shared revenue payments amortized over ten annual installments at zero percent interest starting the year that the reimbursement occurs.