Fiscal Note
The 2007 Adopted Capital budget of the Department of Planning and Development includes authority for expenditure of $1,100,000 for this project (Project No. 33, "Brownfields Remediation Revolving Loan Fund), including $100,000 of General Obligation borrowing to help leverage the state grant funds. The program guidelines require a 65% City, 35% Applicant match. As such, the Applicants to the program will fund most of the required State match. City funds will be used for marketing and outreach, and to enlist consultant services to help determine grant award criteria.
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SUBSTITUTE - Authorizing the City of Madison to accept a grant from the State of Wisconsin Department of Commerce in the amount of $1,000,000 and to utilize these funds for brownfield remediation activities.
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WHEREAS, the City of Madison Office of Business Resources applied to the State of Wisconsin Department of Commerce (the "State") for funding to develop a brownfield remediation program through the Brownfields Legislative Award (LEG); and,
WHEREAS, the State is prepared to provide $1,000,000 to the City of Madison for brownfield remediation activities; and,
WHEREAS, it is the intent of the State and the City that these funds be used to assist private projects that result in employment centers, job creation/retention, and redevelopment of underutilized parcels by lessening the financial burden of remediation and demolition associated with environmentally contaminated brownfield properties; and,
WHEREAS, the City will grant or loan these funds under its Brownfield Remediation/Elimination and Workforce Development (BREWD) program guidelines as approved by the State; and,
WHEREAS, the State requires a match of approximately $538,000 toward eligible project costs, the source of which can be program Applicants and/or the City of Madison (including in-kind City support).
NOW THEREFORE BE IT RESOLVED, that the City is authorized to accept the brownfield remediation grant from the State in the amount of $1,000,000; and,
BE IT FURTHER RESOLVED, that the Mayor and City Clerk are hereby authorized to execute a grant agreement and other documentation with the State consistent with the intent of this resolution, all in a form as approved by the City Attorney; and,
BE IT FURTHER RESOLVED, that the Common Council adopts the attached BREWD program guidelines; and,
BE IT FURTHER RESOLVED, the staff of the Economic & Community Development Division are authorized to make minor text and graphic modifications to the BREWD program guidelines and application, including any maps or attachments thereto, to reflect staffs' future experience managing the program; and,
BE IT FURTHER RESOLVED, during the first year following execution of the grant agreement with the State, Office of Business Resources staff shall maintain a record of individuals expressing interest in the program, including known information about an individual's decision not to apply for BREWD funding. At the conclusion of this first year, Office of Business Resources staff shall provide a report to the Economic Development Commission, Board of Estimates, and Common Council that outlines the initial response to the BREWD program, along with recommendations for modifying the BREWD guidelines if appropriate; and
BE IT FINALLY RESOLVED, that the staff of the Economic & Community Development Division is authorized to invite applications from borrowers for BREWD funds, to market the BREWD program, and to issue a request for proposals for the purpose of retaining a qualified consultant to assist the City with underwriting brownfield remediation projects.