Fiscal Note
The proposed resolution authorizes the Parks Division to apply for and accept if awarded, grant funding from the State of Wisconsin Grants for Local Projects Program. The grant will fund a portion of the costs of improvements at Breese Stevens Field. The City must demonstrate that it has $4,000,000 in match funding for this project. The Parks Division’s 2024 Adopted Capital Budget authorizes $200,000 for Breese Stevens Improvements within the Park Facility Improvements Major. If the grant is awarded, the Parks Division 2024 Adopted Capital Budget will be amended to reflect a total project cost of up to $8,000,000 and appropriate the grant funding of up to $4,000,000. The Economic Development Division’s 2024 Adopted Capital Budget will be amended to add $2,000,000 in new City-issued General Obligation borrowing authorization to the Breese Stevens Field Improvements to support overall project costs. The resolution also directs City staff to pursue an amendment to the TID #36 Project Plan from the TIF Joint Review Board to utilize up to $2,000,000 in TID #36 funding in lieu of GO borrowing. If the Project Plan amendment is approved, TIF funding would replace GO Borrowing. The resolution also amends the 2024 Adopted Capital Budget of the Parks Division to appropriate $1,800,000 in Park Impact Fees ($1,300,000 from City-Wide and $500,000 from North District) to the Breese Stevens Field Improvements Project Munis #15039, within Park Facility Improvements Program MUNIS Major #17443.
Title
Authorizing the Parks Division to submit, and if awarded, to accept a grant of $4,000,000 from the State of Wisconsin Grants for Local Projects Program for the Breese Stevens Field Improvement Project and authorizing the Mayor and City Clerk to enter into a contract with the State of Wisconsin to accept the grant award; and amending the 2024 Adopted Capital Budget of the Economic Development Division and the Parks Division. (District 6)
Body
WHEREAS, the State of Wisc...
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