HomeMy WebLinkAboutR-1995-042 Loan / improvements / vicinity Elks ParkRESOLUTION NO. R-95- 42
A RESOLUTION authorizing and directing the City Manger to apply for a loan
from the Washington State Community Economic
Revitalization Board to finance improvements to public
infrastructure in the vicinity of Elks Park.
WHEREAS, economic development is a priority of 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, Central's, Inc. has proposed formation of a private/public
partnership to develop a new light industrial facility in the vicinity of Elks Park
within the State designated Community Empowerment Zone, and
WHEREAS, the proposed light industrial facility represents a significant
opportunity for reinvestment and redevelopment in Yakima, with substantial
opportunities and economic diversification and job creation which would benefit
the local economy, and
WHEREAS, the proposed light industrial facility will require improvements
to public infrastructure in the vicinity of Elks Park, and
WHEREAS, the state Community Economic Revitalization Board (CERB)
provides low-interest loans for new infrastructure and infrastructure expansion
projects that foster economic diversification and job creation in economically
distressed areas of the state, and
WHEREAS, improvements to public infrastructure which will be required
for the proposed light industrial facility appear to be appropriate for CERB
financing, and
WHEREAS, it is in the best interests of the City of Yakima that the proposed
light industrial facility and associated improvements to public infrastructure in
the vicinity of Elks Park be constructed expeditiously and that all appropriate
state financial assistance be utilized, 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
the attached application, including all understandings and assurances contained
therein, for CERB financing for improvements to public infrastructure associated
with the proposed light industrial facility. 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 provided such additional information as may be
required to complete the application process,
ADOPTED BY THE CITY COUNCIL this 14th day of March, 1995.
ATTEST:
City Clerk
lap\comm&econ devel\CERB APP/Central's .res. 3/10/95 12:34 PM
RESOLUTION FOR APPLICATION FOR CERB LOAN — Page 1
Mayor