HomeMy WebLinkAboutR-1992-D6090 Timber CERB-PWTFRESOLUTION NO. 1) 6 0 0
A RESOLUTION authorizing execution of a grant agreement with the U.S. Department
of Commerce, Economic Development Administration in connection
with the Yakima Industrial Park located from 6th to 16th Avenue and
River Road, and Highway 12.
WHEREAS, the City of Yakima is in the process of applying for Economic
Development Assistance funds in the amount of $775,000 as a part of a $1,660,000
total project cost industrial development preparation program; and
WHEREAS, this application is a result of many years of need identification,
strategy development, and feasibility studies pointing the necessity for this project, the
Yakima Industrial Park, an 85 acre site located from 6th to 16th Avenue and River
Road, and Highway 12; and
WHEREAS, the funds will be used for the installation of a sanitary sewer main,
water lines, industrial service roads and intersection and supporting improvements;
and,
WHEREAS, the Yakima Valley currently lacks an adequate site for future
industrial opportunities and the development of an industrial park will benefit the entire
Yakima region; and
WHEREAS, without the assistance for the off-site cost of utility extensions and
roadway improvements, an industrial park could not be developed by the private
market; and
WHEREAS,the City has legal authority to encourage economic development as
well as to build and improve public water mains, sewer and streets; and
WHEREAS, the City of Yakima wishes to enhance the opportunities for new
employment and industrial diversification in the Yakima Valley, now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager and City Clerk of the City of Yakima are hereby authorized
and directed to execute the grant application which is attached to and incorporated
into this resolution and to accept the grant if offered including execution of other
necessary documents; and
The City of Yakima commits its share of the project cost, $885,000 to consist of a
State grant for $250,000, a State loan of $250,000, and $385,000 in cash from the
City's Economic Development Fund.
ADOPTED BY THE CITY COUNCIL this day of A-RZLI— 1992.
ATTEST:
City Clerk
'ATE ,RD
Yakima
Vicinity
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For:
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®Copyright City of Yakima, Washington 1992
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