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Subject: Communication sponsored by Alder Jung, and a request by Matthew G. Sadowski, Interim Executive Director of the Community Development Authority (CDA), seeking authorization to prepare and submit an application for an Economic Development Administration CARES Act Application for Construction Assistance grant of up to $1,000,000 for public infrastructure connectivity improvements for the CDA-owned property at 233 Lake Avenue.
Recommendation of the Finance and Personnel Committee on 07-13-2020: That funds and assistance available from the EDA CARES Act be requested and that the rules of the program be complied with.
Further, that the Interim Executive Director and/or Chairman of the Community Development Authority, or their designee, be authorized to act on behalf of the CDA to submit an application for the CARES Act to assist with the construction of public infrastructure connectivity improvements for 233 Lake Avenue.
Fiscal Note: The amount of the grant being requested is $1,000,000. If the grant is received, a soft match of existing funds already committed to the redevelopment of the site is expected. No new dollar match is anticipated.