HomeMy WebLinkAbout2000-028 Arterial Street Fund appropriation • •
ORDINANCE NO. 2000- 28
AN ORDINANCE amending the 2000 budget for the City of Yakima; and making an
appropriation of $466,500 in the 142 — Arterial Street Fund for expenditure
during 2000 to provide infrastructure for Cascade Quality Molding.
• WHEREAS, the amount of $466,500 must be appropriated within the 142 — Arterial Street
Fund in order to provide funding for the infrastructure for Cascade Molding, and
WHEREAS, at the time of the adoption of the 2000 budget it could not reasonably have been
foreseen that the appropriation provided for by this ordinance would be required; and the City Council
finds that an emergency exists of the type contemplated by RCW 35.33.091 and that it is in the best
interests of the City to make the appropriation herein provided, now, therefore,
BE IT.ORDAINED BY THE CITY OF YAKIMA:
Sect_ ion The amount of $466,500 is hereby appropriated from the Unappropriated Fund
Balance in the 142 — Arterial Street Fund to account numbers as shown on Schedule I as a 2000
appropriation.
Section 2. This ordinance is one making an appropriation and shall take effect immediately
upon its passage, approval and publication as provided by law and by the City Charter.
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PASSED BY THE CITY COUNCIL, signed and approved this �� day of ,
2000.
/ MAYOR
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ATTEST:
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CITY CLERK
First Reading:
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Publication Date:
Effective Date: _ Jc2
AO /Approp O.
06/01/2000 1:39 PM
SCHEDULEI
Arterial Street
REVENUE
Federal Hiway Administration
142 -3 -142- 528- 1907 - 33320 -2FH $378,500
SLED Grant
142 -3 -142- 528 -1907- 33700 -ILG $44,000
SIED Loan
142 -3- 142 - 528 - 1907- 39180 -COU $44,000
APPROPRIATIONS
Ahtanum Road Arterial Improvement
142 -4- 142 -528- 1907 -59530 - 650 $466,500
TOTAL $466,500 $466,500
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BUSINESS OF THE CITY COUNCIL
0 YAKIMA, WASHINGTON
AGENDA STATEMENT i X
Item No.:
For Meeting of: June 6, 2000
ITEM TITLE: Consideration of: 1) a resolution to authorized the City Manager to execute a
financial award agreement with Yakima County for a grant not to exceed $44,000 and a loan not to
exceed $44,000, funding for which will come from the Yakima County Supporting Investments in
Economic Development (SIED) fund, and 2) an ordinance appropriating $466,500 within the 142 —
Arterial Street Fund for expenditure during 2000 to provide infrastructure for Cascade Quality
Molding.
SUBMITTED BY: William Cook, Director of Community and Economic Development
CONTACT PERSON /TELEPHONE: William Cook 575 -6227
SUMMARY EXPLANATION:
On March 21, 2000, the City Council approved a resolution authorizing submission of a grant and
loan application to the Yakima County SIED fund for the Cascade Quality Molding Project. The
SIED board voted to approve the application for $88,000 on April 6, 2000. SIED funds will be
awarded to the City in the form of a 50% grant, and 50% loan to be repaid by the developer.
• By separate Council action staff is requesting approval of a resolution authorizing the City Manager
to enter into a loan agreement with Cascade Quality Molding for $44,000 in SIED loan funds.
Cascade Quality Molding, owned by Larry and Teresa Kraft is investing approximately $1 million
to build a 20,000 square foot manufacturing facility and purchase equipment. Construction of their
new facility will result in 8 new jobs and 12 retained jobs.
The City's award of SIED funding will offset the costs of providing infrastructure (road, curb,
gutter, and sidewalks) on Athanum Road and South 26 Avenue.
SIED funding will.pay for widening of Ahtanum Road to four lanes, and the construction of curb
and gutter fronting property located at 26 Avenue and Ahtanum road. The improvements are
required for the construction of a new manufacturing facility for Cascade Quality Molding, Inc.,
which will expand its existing operations when the facility is completed. The estimated cost for
infrastructure improvements related to the Cascade expansion is $88,000.
Continued to next page
Resolution X Ordinance X Contract:" Other Specify: Loan Agreement
Funding Source: Yakima County SIED Fund and Federal Hiway Administration Fund
APPROVAL FOR SUBMITTAL: - < —_
City Manager
STAFF RECOMMENDATION: 1) Staff recommends approval of the resolution and, 2) Read
0 Ordinance by title only at the June 6, 2000 meeting. Pass Ordinance after second reading at the
June 27, 2000 meeting.
BOARD /COMMISSION RECOMMENDATION:
COUNCIL ACTION: Resolution adopted. RESOLUTION NO. R- 2000 -76
First reading of ordinance. Second reading scheduled 6/27/00.
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In addition, the City will leverage the private investment of road improvements funded by Cascade
Quality Molding together with available federal transportation grant funds to complete the
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widening, to four lanes, of Ahtanum Road from 16 Avenue west to the City limits. The total cost
of all improvements related to the project is estimated at $466,500.00.
Cascade Quality Molding specializes in custom injection molding and plastic parts from design
through production. Cascade serves original equipment manufactures, as well as the electronics,
aerospace and agricultural industries. Cascade also supports many customers and produces a
variety of custom parts and products for the medical, electronics, communications and semi-
conductor industries.
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