Fiscal Note
The City has received a State grant of $1 million for Brownfields Remediation. The 2011 adopted City operating budget authorizes expenditures of up to $500,000 in 2011 from the Brownfields Remediation Revolving Loan Fund, of which $425,000 was recently authorized for expenditure in conjunction with the development of the Royster Clark property (Leg. #22135, RES-11-00453, adopted 5-17-11). In addition, a pending Resolution (Leg. #22669, introduced on 6/7/11) ) proposes amending the Brownfield Remediation Revolving Loan Fund to authoriize expenditures of an additional $250,000 in Brownfields Remediation grant funds The proposed expenditure of an additional $325,000 as provided in this Resolution will, in conjunction with previously authorized and pending proposed expenditures, fully commit the total $1 million in Brownfields Remediation grant funds. An amendment to authorize the additional expenditure is required. No additional appropriation is required and there is no impact on the City levy.
Title
Authorizing the award of a grant of BREWD funds in an amount not to exceed $325,000 to Hovde Properties LLC for the demolition, remediation, and redevelopment of the former Mautz Paint property at 925 E. Washington Avenue, the execution of a BREWD Grant Agreement by the Mayor and City Clerk, and amending the 2011 adopted budget of the Brownfields Remediation Revolving Loan Fund to allow for the additional expenditure.
Body
WHEREAS, the City of Madison received a $1,000,000 award from the State of Wisconsin to capitalize the Brownfield Remediation/Elimination & Workforce Development (BREWD) program; and,
WHEREAS, the Common Council adopted the current BREWD program guidelines on February 23, 2010; and,
WHEREAS, Hovde Properties LLC submitted an application for BREWD funding on April 15, 2011 for the demolition, remediation, and redevelopment of the former Mautz Paint property comprising approximately 4.25 acres located at 925 E. Washington Avenue ...
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