HomeMy WebLinkAboutR-2023-159 Resolution authorizing acceptance of the Supporting Investments in Economic Development grant and loan funding for the Yakima Chief Hops Traffic Signal Project RESOLUTION NO. R-2023-159
A RESOLUTION accepting and authorizing the execution of the Supporting Investments in
Economic Development (SIED) grant and loan funding from Yakima
County for Contract YC-YCH-23 — Yakima Chief Hops Traffic Signal.
WHEREAS, the Yakima City Council has established that the development of
commercial properties and increasing jobs for residents of the City is an Economic Development
priority for the City of Yakima; and
WHEREAS, Yakima County has established the Supporting Investments in Economic
Development (SIED) funds to assist the growth of business; and,
WHEREAS, the improvement of city streets to improve public safety is a priority. In this
case, a new traffic signal will enable Yakima Chief Hops to retain local jobs in Yakima, address
pedestrian safety, and allow for future redevelopment and improvements of their Yakima
campus and operations; and
WHEREAS, The City of Yakima requested and was approved for funding from the
Yakima County "Supporting Investments in Economic Development" (SIED) Board for a
$312,500 grant and $312,500 loan for traffic infrastructure improvements at the intersection of
Division Street and South 3rd Ave; and
WHEREAS, the City Council deems it to be in the best interest of the City of Yakima and
its residents to accept the Yakima County SIED funding for the installation of a new traffic signal
at the intersection of Division Street and South 3rd Ave; now, therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager is hereby authorized to accept and execute the Supporting
Investments in Economic Development (SIED) Grant and Loan agreement with Yakima County
for contract YC-YCH-23, in the amount not to exceed $750,000, including $312,500 in grant,
$312,500 in loan and a 20% in local match, with all repayment and local match to be paid by the
City of Yakima.
ADOPTED BY THE CITY COUNCIL this 21st day of November, 2023.
Janice Deccio, Mayor
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 7.M.
For Meeting of: November 21, 2023
ITEM TITLE: Resolution authorizing acceptance of the Supporting Investments
in Economic Development grant and loan funding for the Yakima
Chief Hops Traffic Signal Project
SUBMITTED BY: Bill Preston, City Engineer
*Sy Ruiz, Economic Development Services Assistant
SUMMARY EXPLANATION:
The City of Yakima received funding from the Yakima County Supporting Investments in
Economic Development (SI ED) Board for the installation of a traffic signal at the intersection of
S. 3rd Avenue and Division Street. This project will enable Yakima Chief Hops to retain local jobs
in Yakima, address pedestrian safety, and allow for future redevelopment and improvements of
their Yakima campus and operations. The total grant award from the Yakima County to the City of
Yakima is $312,500 in grant, $312,500 in loan and $125,000 in local match. The agreement is
attached for City Council Review.
ITEM BUDGETED: No
STRATEGIC PRIORITY: Economic Development
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Adopt Resolution.
ATTACHMENTS:
Description Upload Date Type
D Resolution 11/2/2023 Corer Memo
D SIED Contract 11/2/2023 Corer Memo