HomeMy WebLinkAboutR-2006-051 Downtown Futures Initiatives Phase 3 Grant ApplicationRESOLUTION NO. R-2006- 51
A RESOLUTION Authorizing the City Manager to execute and submit a grant application in an
amount not to exceed $2,360,000 to the Washington State Community
Economic Revitalization Board Jobs Development Fund for the Yakima
Downtown Futures Initiative Phase 3 — Core Area Connectors.
WHEREAS, the Washington State Legislature has established the Community Economic
Revitalization Board (CERB) Jobs Development Fund (JDF) to assist economic growth through
public infrastructure investments m the state; and
WHEREAS, economic development is a priority for the City of Yakima, and the City
intends to approach economic development on an inclusive, comprehensive basis which involves
public, private and community-based efforts to achieve new investment and redevelopment in the
City; and
WHEREAS, the Downtown Futures Initiative Phase 3 is part of a four-year capital funding
project to create new development and jobs in Downtown Yakima; and
WHEREAS, the city has secured $7,370,000 for Phases 1 and 2 of the Downtown Futures
Initiative; and
WHEREAS, the improvements to be constructed with JDF funding are eligible for inclusion
in the Six -Year Transportation Improvement Plan; and
WHEREAS, the Project will leverage approximately $25,000,000 in private funds;
Now, Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager is hereby authorized and directed to execute and submit a grant
application, including all understandings and assurances contained therein, for financing from
CERB's Jobs Development Fund, in an amount not exceed $2,360,000 for the Yakima Downtown
Futures Initiative Phase 3. The City Manager is hereby designated as the official representative of
the City to act in connection with that funding application and is authorized to take such additional
actions as may be necessary and prudent to complete the application process.
ADOPTED BY THE CITY COUNCIL this 28th da of March, 2006.
ATTEST: David Edler, Mayor
City Clerk
X.\CITY OF YAKIMA-20009\Jobs Development Fund\Resolution R-2006 (Downtown Draft - 1 DAB redline 032006).doc
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. L-{'
For Meeting Of: March 28, 2006
ITEM TITLE: Consideration of a resolution authorizing the City Manager to
execute and submit grant applications to the Washington State
Community Economic Revitalization Board (CERB) Jobs
Development Fund for the following projects:
1.) Gateway Loop — Yakima Sawmill Redevelopment Project, in an
amount not exceed $5,000,000; and
2.) Downtown Futures Initiative Phase 3: Core Area Connectors, in
an amount not to exceed $2,360,000.
SUBMITTED BY: Bill Cook, Director of Community and Economic Development
CONTACT: Michael Morales, 575-3533
SUMMARY EXPLANATION:
The Washington State Legislature created a new grant program for CERB in the 2005
session called the Jobs Development Fund. The purpose of the JDF is to provide grants
for construction of infrastructure that is critical to new development and emerging
industries. CERB is accepting applications for projects that will be funded by the
legislature in the 2007 session. The JDF program requires a 66% match by the
applicant agency in order to qualify for funds. Match monies do not need to be secured
for the application process, but must be raised prior to the use of JDF dollars. Eligible
match includes private, local, state and federal funds, and right-of-way contributions.
The city's two applications were selected after consultation with members of the City
Council Economic Development Committee, and are consistent with the council's
economic development strategies and goals. Applications are due April 3, 2006 and
require a council resolution to qualify for review.
Resolution _X Ordinance Contract Other: Grant Application
Funding Source: Washington State CTED
Approval for Submittal:'
CiManager
STAFF RECOMMENDATION:
BOARD RECOMMENDATION:
COUNCIL ACTION:
Staff recommends approval of the resolution.
Council Economic Development Committee
recommends approval
(1) Resolution adopted. RESOLUTION NO R-2006-50
(2) Resolution adopted. RESOLUTION NO. R-2006-51
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