Fiscal Note
Sufficient Federal CDBG funds of $154,600 are available for this project within the Community Development Division's Economic Development Reserve Fund, which was authorized as part of the Division's 2012 Adopted Operating Budget. The Council previously approved $345,400 in CDBG funds for the project. The use of CDBG funds will have no impact on the levy.
Title
Authorizing the allocation of $154,600 of additional CDBG funds to support the development of the FEED Kitchen Incubator project on Madison's Northside; and authorizing the Mayor and the City Clerk to execute an amended FEED Kitchen Incubator contract with the Northside Planning Council.
Body
Previously the CDBG Committee has recommended, and the Common Council has authorized $345,400 in CDBG funding to support the Northside Planning Council's FEED Kitchen Incubator Project; and
At the June 7, 2012 meeting, the CDBG Committee approved a recommendation to the Common Council to authorize an additional $154,600 of CDBG funds to facilitate construction start in the fall of 2012 for the project, and
The Common Council previously adopted the Northport-Warner-Sherman Neighborhood Plan in November, 2009, in which the Neighborhood Steering Committee recommended the FEED Kitchen Incubator project as one of two priority projects for implementation and funding support from CDBG neighborhood funds.
WHEREAS, the Northside Planning Council's FEED Kitchen Incubator project was identified as a high priority as part of the Northport-Warner Park-Sherman Neighborhood Plan; and
WHEREAS, the CDBG staff and CDBG Committee have reviewed the proposal and find that the FEED Kitchen Incubator project furthers the goals expressed in the 2010-2014 Five-Year Community and Neighborhood Development Plan and the 2012 Community Action Plan; and
WHEREAS, the Housing and Community Development Act of 1974, permits the City of Madison to assist community agencies in the development of innovative projects which benefit low and moderate income people.
NOW, THEREFORE, BE IT RESOLVED, that the Common Council approves the provision of an additional $154,600 in CDBG funds in the form of a secured, deferred loan for the Northside Planning Council's FEED Kitchen Incubator Project.
BE IT FURTHER RESOLVED, that the Common Council authroizes the Mayor and the City Clerk to execute an amended contract with the Northside Planning Council for the FEED Kitchen Incubator Project.