5.3. SR 03-24-2003 - Laserfiche WebLink

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City Council Public Hearing on MTF Grant Application For Sportech, Inc. Expansion March 24, 2003 Page 3 of 3 Sportech, Inc. currently employs 23 full-time equivalent positions. The company anticipates hiring, within 2-years of official building occupancy, up to 15 new full-time employees at a wage of not less than $15.00/hour plus benefits. In order to meet the federal objectives for the grant funds, Sportech, Inc. will be required to have a minimum of 51% of the new positions be taken by or made available to persons of low-to-moderate income. Anti-Displacement, Relocation Assistance and Displacement Minimization Plan Although the displacement of residents and/or businesses is not anticipated with the proposed Sportech, Inc. project, the City Council is requested to adopt a Residential Anti-Displacement, Relocation Assistance and Displacement Minimization Plan in order to meet the federal grant objectives. The attached drafted plan for Residential Anti-Displacement, Relocation Assistance and Displacement Minimization is provided for City Council review, as well as the attached Resolution adopting the Residential Anti-Displacement, Relocation Assistance and Displacement Minimization Plan. Local Government Resolution and Compliance Certification The attached Local Government Resolution is also provided for the City Council's consideration. The Local Government Resolution formally authorizes the Mayor and Director of Economic Development to submit the application to MN DTED and to execute agreements as necessary to implement the project on behalf of the city. The resolution also certifies that the City of Elk River will comply with all applicable laws and regulations as described in the Compliance Certification, which is attached to the fore mentioned resolution. Authorization for Local Development Organization The City can avoid the federal program requirements on the reuse of the funds by requesting authorization to transfer federal Small Cities funds to a Local Development Organization (LDO), such as the EDA or HRA. The request must be made by the attached resolution of the City Council and submitted to DTED for approval. The federal requirements would have been met on the fzrst loan to business, Sportech, so the LDO would not have to comply with federal requirements on the reuse. DTED asks that the LDO utilize policies and procedures for the reuse of funds for economic development activities utilizing the EDA's Micro Loan Policies, but without the federal requirements attached. No further reporting is required to DTED. At its March meeting the EDA took action to recommend that the City Council consider authorizing the EDA as a Local Development Organization. A copy of the staff memo to the EDA regarding the Local Development Organization issue is attached for information. Action Requested After conducting the public hearing on the DTED grant application, and, after discussion of the city's housing and community development needs, the City Council will be asked to adopt the following attached resolutions: · Resolution Adopting a Residential Anti-Displacement, Relocation Assistance and Displacement Minimization Plan · Local Government Resolution · Resolution Requesting Designation of the EDA as a Local Development Organization It is anticipated that the DTED grant application be submitted on approximately April 3~a. Formal notification from DTED is expected within two weeks.