Fiscal Note
The Resolution will recognize grant revenues of up to $800,000 and commensurate expenditures for site improvements in the 2012 adopted capital budget of Planning, Community and Economic Development for TID 36 - Capitol Gateway Corridor (Project No. 3, "TID 36- Capitol Gateway Corridor, Acc't No. 823601"): $400,000 in newly identified DNR Ready for Reuse Grant funds and $400,000 in Federal Brownfield grants, which should have been included as part of the original project budget but were inadvertently omitted. The project funding already includes the required local cost-share of $80,000 for the Federal Brownfield Grant and $88,000 for the DNR grant. No additional City appropriation is required.
Title
Authorizing the application and acceptance of up to $400,000 in Wisconsin Department of Natural Resources Ready for Reuse Grant funds to assist with brownfield remediation activities within the 800 North Block of East Washington Avenue, and committing up to $88,000 as a local cost-share, and amending the 2012 capital budget of Planning and Community and Economic Development to recognize these additional grant revenues, plus $400,000 in Federal EPA Brownfield Grant monies, and commensurate expense as appropriate.
Body
WHEREAS, the City of Madison is aware of brownfield cleanup needs within the 800 North Block of E. Washington Avenue currently under ownership of the City; and,
WHEREAS, the City recognizes that the remediation and redevelopment of brownfields is an important part of protecting Wisconsin’s resources; and,
WHEREAS, the Wisconsin Department of Natural Resources (“DNR”) has grant funds of up to $400,000 available through the Wisconsin Ready for Reuse Program (“Grant”) to assist with environmental remediation activities; and,
WHEREAS, the City must complete and file a written application for Grant funds, and if selected for funding, enter into a Grant agreement with the DNR; and,
WHEREAS, said Grant agreement will require the City to...
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