Fiscal Note
The City established in 2007 a Brownfields Remediation Revolving Loan Fund for administration of $1,000,000 in State grant funds for brownfield remediation activities. To date, the City has awarded no funds. The City's program guidelines provide for both loans and grants to eligible entities for environmental site assessments, site investigations, remedial action plans and site clean up. The Resolution proposes that funding from the Brownfields fund be awarded in the form of grants, rather than loans, to encourage use of the funding. There is no additional cost to the City.
Title
Modifying the Brownfields Remediation/Elimination & Workforce Development (BREWD) Program guidelines.
Body
WHEREAS, the City of Madison (the “City”) 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 awarded $1,000,000 to the City of Madison for brownfield remediation activities; and,
WHEREAS, the City accepted these funds on September 20, 2007 (Legislative File ID 07156, Enactment No: RES-07-00945) and adopted the Brownfield Remediation/Elimination and Workforce Development (“BREWD”) program guidelines, and;
WHEREAS, the adopted BREWD guidelines provided that funding would be provided as a loan; 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, it is recommended that the BREWD guidelines be modified to provide funding in the form of a grant rather than a loan to encourage the use of the BREWD program,
NOW THEREFORE BE IT RESOLVED, that the City adopts the revised attached BREWD program guidelines that change fund...
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