4.5. SR 07-09-2012 - Laserfiche WebLink

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REQUEST FOR ACTION TO ITEM NUMBER ~Ia~or and Cirn Council -~.~ AGENDA SECTION MEETING DATE PREPARED BY Consent Jul~r 9, 2012 Annie Deckert, Director of Economic De~Telo _ ment ITEM DESCRIPTION REVIEWED By 1lii~nesota Department of Employ-meat and Economic (;al Pormer, Cin- administrator Development (INDEED) Business De~-elopment Public REVIEWED BY Infrastruct<Lre (BDPI) Grant agreement ACTION REQUESTED ~ppro~Te the attached Minnesota Department of Emploirment and Economic De~-elopment (~LNDEED) Business De~relopment Public Infrastnlct~tre (BDPI) Grant agreement. BACKGROUND/DISCUSSION In the spring of 2010, the Cit<r Council appro~Ted a phased de~Telopment plan for the 171'r Focused area Studio. The de~-elopment plan outlined infrastruct<Lre impro~-ements necessary to ma1~e the land de~-elopable. On Febnlal-~~ 6, 2012, the city adopted a resolution supporting an application for a INDEED BDPI rant to help offset the costs of the I7"1'r Focused area Studi- De~-elopment Plan Phase I impro~-ements. Staff completed an application for the BDPI grant requesting $20,000 (m<~zimum request) for the project, which ~ as awarded in June 2012. State is seeking appro~Tal on the attached grant agreement. FINANCIAL IMPACT The city is required to match the $Z:i~,000 grant and will use funds already committed bir the City De~-elopment Fund. The ED ~ will contribute $~~0,000 from their De~-elopment Fund m assist with the project. No additional funds will be needed for the match. Below is the updated estimated budget for the project: ED ~ De~-elopment Fund $-~~0,000 BDPI Grant $20,000 City De~relopment Fund $2~-I,177 Trllllk `Water Fund $223,-~2~ TLUnk Sewer Fund $13~.39:i Total Project $1,313,000 ATTACHMENTS ^ SIN Department of Emplo~-ment and Economic De~-elopment 2012 Greater ~LN Business De~-elopment Public Infrastnlcture Grant agreement for Nature's Edge Business Center Q-Ct1011 Motion b~ Second b~ Note PUMEREU A1' ~A-'UR~